The governor of the Bank of England has said the UK needs a “supportive” investment environment if it is to realise the economic benefits of innovative new technologies.

Speaking at an event in Edinburgh on Monday, Andrew Bailey said “general purpose technologies” (GPT) such as AI, green energy and the space sector could lead to “industry-wide growth” and a boost to productivity.

However, he said achieving this required “the necessary investment”, which he said depended on “a lot of commitment”.

“If we are on the cusp of seeing another advance in GPT, we need the conditions to support an environment where investment occurs across the economy,” he said.

“From the official side, we need to provide a policy framework which sustains growth and innovation.”

He went on: “We must do all

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