Insights Cybersecurity and economic growth: UK Government call for views


The UK Government’s 2022 National Cyber Strategy sets out the Government’s approach to protecting and promoting the UK’s interests in cyberspace and is the plan for ensuring that the UK continues to be a leading responsible and democratic cyber power. On 23 February 2024, the Government launched an independent review, to be conducted by the Rt Hon Stephen McPartland MP, into cyber security as an enabler of economic growth.

Since the publication of the National Cyber Strategy, the UK has become more secure against cyber attacks, but there is a need to search for opportunities to accelerate that work. Organisations with good cyber security practices better protect their operations, intellectual property and customers from cyber attacks that can cause financial loss and business disruption. Secure technology allows industry to make the most of digital technologies to grow and innovate confidently, while minimising threats and risks.

The purpose of the review therefore is to assess the economic benefits that can drive down the cost of effective cyber security. The review will aim to make recommendations on how to give businesses greater confidence to invest in more secure environments (e.g. using cyber security as a market differentiator), the real-term cost of cyber security and how this can be driven down, fostering greater awareness, accountability and acceptance of the benefits of cyber security through transparency (with a focus on how the information generated could be used to price insurance risk), minimising costs to businesses and consumers by exploring how investment in security can be an enabler of growth, and opening markets for UK business through international (mutual) recognition of UK domestic standards.

The review is seeking views and evidence from across all sectors of the economy and other interested parties. It aims to identify opportunities for improvement and to make recommendations to Government by 1 May 2024. Respondents are invited to respond as soon as possible so that their views can inform a series of roundtable events with key stakeholders planned for March and early April.

For more information and to respond to the Call for Views, which closes on 28 March 2024, click here.