The Government is investing £270m in the development of cutting-edge quantum technology, Chancellor George Osborne has announced.
Speaking ahead of today's Autumn Statement, Osborne said that QT – which attempts to exploit quantum physics for practical applications – had the potential to deliver huge benefits for the British economy.
The funding – to be invested over five years – will be used to support the development of a national network of research centres, as well as postgraduate skills, research and infrastructure and an innovation programme.
QT has already been used in satellite navigation data storage and encryption and is seen to have further potential in the areas of secure communications, simulators, computers, and metrology and sensors.
The announcement was welcomed by the president of the Royal Society, Paul Nurse.
"There are few sectors where the UK can really claim to have a competitive advantage to build upon but science is one," he said. "Today's announcement shows that this Government recognises winning potential and backs it."
Osborne said: "Science is a personal priority of mine. This Government will continue to prioritise the long-term investments that are needed to compete in the global race."