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"R&D in the technology sector is hugely important, if we are to keep up on the global stage and combat the rapidly evolving and sophisticated world of cyber crime," says Rob Cotton, CEO at NCC Group. "The announcement of the Turing Institute and the £42 million pound support package is a good initiative and, if executed correctly, should help stimulate cutting-edge technology research and ensure the UK keeps up in the global tech race," he stated.

On the new £1 coin and lack of cyber security initiatives, he had this to say: "Although the government is taking steps to reduce the forgery rate of physical money with the introduction of the new £1 coin… it has ignored the new generation of crime which occurs over the internet... we know that the government has been raising awareness of the issue and it has outlined a number of projects to help combat cyber crime, but this isn't enough.

"I'd like to see real financial support to help businesses protect themselves - and the country. This will make a real difference to our levels of protection as a country and will send an important message to business leaders about how serious the threat is."