The UK is to develop a new National Cyber Centre in 2016, which will allow it to respond effectively against cyberattacks, its chancellor has announced.

George Osborne said in a speech at the Lord Mayor’s Banquet at London’s Guildhall that the centre “will act as a single point of contact” for security experts in the country.

The National Cyber Centre will offer cyber-related support and advice to industry, helping it come up with solutions to this growing menace.

“Reporting to GCHQ will mean the centre can draw on the necessarily secret world-class expertise within this organization,” Mr. Osborne explained.

“But the centre will also have a strong public face and will work hand in hand with industry, academia and international partners to keep the UK protected against cyberattacks.”

As the National Cyber Centre becomes more established, its remit will expand, the UK's chancellor elaborated.

"We will build in the National Cyber Centre a series of teams, expert in the cybersecurity of their own sectors."

This includes eventually having the capacity and expertise to react decisively to cyberattacks “as they arise”.

He added: “We will build in the National Cyber Centre a series of teams, expert in the cybersecurity of their own sectors, from banking to aviation, but able to draw on the deep expertise here, and advise companies, regulators, and government departments.”

The UK government has committed £1.9 billion to enhancing its cybersecurity capabilities, Mr. Osborne expanded, which, when added to other related spending, puts the total cyber investment at £3.2 billion.

There is, however, much work to be done, he acknowledged, as the security industry is in desperate need of skilled professionals.

Referencing the Global Information Security Workforce Study, the chancellor noted that as things stand, there will be an international cybersecurity workforce shortage of some 1.5 million by 2020.

This needs to be addressed urgently, as it directly impacts on any ambitions the government or the security industry has in boosting its cyber defences.

Mr. Osborne concluded the matter: “We will launch an ambitious programme to build the cyber skills our country needs, identifying young people with cyber talent, training them, and giving them a diversity of routes into cyber careers.”