Question to the HM Treasury:

What fiscal steps he is taking to grow the digital economy.

The UK's digital economy is thriving - growing ten times as fast as the wider economy - and we are pursuing a range of measures to reinforce its world-leading position. These include:

• Implementing a 10-year action plan to unlock over £20 billion to finance growth in innovative firms;
• Committing a further £7 billion for research and development since 2016, with major investments in artificial intelligence and quantum technologies; and
• Providing internationally competitive research and development tax reliefs to support investment.

We are also embracing the opportunities presented by Distributed Ledger Technologies, including by:

• Investing over £10 million through Innovate UK and the research councils; and
• Creating the £20 million GovTech Catalyst Fund, to explore technology-based solutions for public sector challenges.