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The Government's role in the UK's digital economy

The Commons Business, Innovation and Skills (BIS) Committee has launched an inquiry to investigate the digital economy.

The inquiry will look at how the digital economy affects businesses, how to maximise opportunities and overcome challenges in the sector and how the sector can contribute to improving national productivity.

It will also consider how businesses can best adapt to a rapidly changing environment, how they can utilise digital infrastructure to improve performance and what the government can do to ensure the UK plays a leading part in taking advantage of digital technology.

"Digital technology is rapidly changing the economic landscape in which firms operate," claimed the Committee Chair Iain Wright MP.

"Nothing short of a digital and tech revolution is taking place, with new entrepreneurs and business models emerging and existing businesses having to adapt quickly to keep pace.

"There are huge opportunities for competitive advantage for UK firms, but also real challenges," he added.

What Can The Government Do To Aid The Digital Economy?

The BIS Committee is asking for answer to six questions that will form the base of their report on the digital economy.

It wants to know what barriers there are to proper adoption of digital technologies and what government can do to overcome these, as well as the effectiveness of UK financial markets in supporting the digital economy.

The Committee has also asked what lessons can be learnt from the government's support of tech start-ups and are digital technologies proper safeguarded by the country's UK Intellectual Property regulatory regime.

It intends to work out how the government can foster the development of potentially disruptive digital technologies and what it can do to ensure the availability of workforce with appropriate digital skills.

"The BIS Committee wants to evaluate existing initiatives by the government and to consider what other actions the government might take to enhance the digital economy," claimed Wright.

"We want to hear from all those interested and involved in this area, whether you are a tech entrepreneur ambitious to start a business or a company in an established part of the economy hoping to use digital technology to improve your business, so we can help ensure the UK is at forefront of the global digital economy," he added.

The deadline for submissions is Thursday 29th October.