UK to Spend £500 Million on Quantum Computing Over Four Years

Rishi Sunak’s government is set to announce £500 million in the upcoming four years on quantum physics to compete with the world, mainly with the U.S. and China. 

The UK government’s investment will help in filling the gap left after an earlier £2.5 million, 10-year quantum strategy, which was introduced by the former conservative government in 2023, was left in doubt. 

While the UK is set to invest in quantum computing, some Bitcoin developers and institutions like BlackRock consider it a potential long-term threat to Bitcoin’s security. Bitcoin developers have proposed measures such as burning old coins to counter the risk of quantum attacks. Concerns have been raised that within 10 to 20 years, quantum computers could become powerful enough to compromise Bitcoin’s underlying cryptographic protections.

Supporters of the quantum industry highlight its ability to change multiple sectors, from advanced industrial material discovery to medical imaging and secure communications. Quantum computers could one day break classical encryption systems, prompting both excitement and national security concerns. 

Gerald Mullally, interim CEO of Oxford Quantum Circuits, stated, “Making sovereign quantum computing capacity is important for both national security and economic resilience.”

As per the reports , the investment is expected to be officially announced on Monday and is part of the government’s broader industrial strategy. Additional investment is anticipated following the £100 million announced last year for five quantum research centers. 

Quantum was among several high-profile science and tech initiatives launched late in the Conservative administration and has since been under review by the Labour government, which took office in July 2024. Labour’s assessment has focused in part on ensuring sustainable funding for these priorities. 

Quantum technologies unveil the unusual or suspect activities of the matter at the atomic and subatomic levels. With its unique capabilities in fields such as imaging where applications like early dementia detection are being developed and sensing has been tested to precisely find London Underground trains. 

Experts and industry leaders have urged the UK government to prioritize quantum technology on par with AI and green energy. Tom Grinyer, Chief Executive of the Institute of Physics, quoted, “Quantum technologies will be as much of a game-changer for humanity as AI or the internet.” He added, “If we don’t invest, others will—and we risk being left behind in the post-quantum world.”

Concerns have also risen over the sale of key British quantum firms to foreign buyers. Recently, Oxford Ionics and the quantum division of Oxford Instruments were both acquired by US-based companies, prompting fears about losing domestic control over critical technologies.

The government’s renewed backing is also being viewed as a response to the rapid global acceleration in quantum investment, particularly from countries like the US and China.

“The global race for quantum computing is reaching prime time,” said Richard Murray, CEO of Orca Computing. “Several countries have made sizable commitments. If the UK wants to claim its share in this future market, now is the time to act.”