Britain cyber security budget doubled, reaches almost £2 billion

Britain has set aside £1.9 billion ($2.32bn) to beef up its cyber security measures over the next five years, two times the spending for the 2011-2016 period.

The British Treasury Department made the announcement in a statement on Tuesday, noting that Finance Minister Philip Hammond would later on outline the new National Cyber Security Strategy.

Under the new plan, London would protect itself against cyber attacks by developing automatic defense lines for businesses and citizens, while reinforcing its cyber workforce to counter the attacks.

The money would also be used to set up a new Cyber Security Research Institute and an Innovation Center in Cheltenham, with the former being tasked with gathering university expertise and the latter with helping cyber start-up companies grow.

The new facilities would be working in tandem with Britain’s National Cyber Security Center which opened last month as part of the GCHQ spying agency and has 700 personnel….

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