Government publishes smart data strategy

The Government has published the Smart Data 2035 strategy, its vision for achieving a smart data economy for the UK. The document sets out the steps that will be taken between now and March 2029 to unlock growth, competition and innovation through secure data sharing, including a £36m investment to promote progress.

The strategy highlights the importance of ensuring that individual consumers and businesses benefit from their own data safely. The Government estimates that smart data schemes in just four sectors of the economy could generate £71.2bn in net social value from 2028 to 2043, with annual GDP contributions estimated to reach £9.6bn by 2043.

The Government wants there to be 5 or more active schemes of 2030 and 20 or more by 2035. Its sector priorities include: banking (payments); financial services; road fuels; energy; property; retail; digital markets; transport; telecommunications; and agrifood.

By 2035, the ambition is for the UK to be a global hub for data-driven growth.