The Chancellors Autumn Statement has revealed that the Government has already included the money from the sale of the remaining 4G spectrum, which is yet to take place, in the 2012-2013 accounts.

The £3.5bn that it is expected to generate – although no precise figure can yet be put on the proceeds of the auction – has already been used by George Osborne (pictured) towards cutting the deficit. The 3G auction back in 2000 raised £22.47bn for the coffers.

“While we can hope that the auction will raise £3.5bn, if the providers are able to they will try and bid as close to the reserve price, so it is entirely feasible that the auction may only raise £2bn,” said Andrew Ferguson, editor of Thinkbroadband. “Also, it must be remembered that the interference mitigation costs of £180m that will result from the 800 MHz band are destined to be paid for out of the money raised by the auction.”

“In personal life, one should never spend a promised bonus until it is safely in your bank account. There is a danger that all the parties are spending the money before the money arrives in the bank.”

Campaign groups, including It’s4Growth, which is supported by Brian Cox, wanted the proceeds to be used for investment in science and technology, instead of plugging the hole in the public purse.

£6m has also been set aside by the Coalition to train around 3,300 entry-level people and professionals in film, television, animation and video games – although mobile was not explicitly mentioned. These companies will also benefit from 25 per cent tax relief from April 2013.

PM at Tech City

David Cameron has also announced at Tech City in East London that £50m of investment by firms including Microsoft and IBN to transform the Old Street tech hub, Silicon Roundabout.

The works will be completed by 2016 and will include a 400-seat auditorium and a 3D-printing centre. The new building will have the capacity to train 10,000 students in programming and business skills, as well as host technology conferences.

Microsoft and RIM are in

Microsoft is establishing a Technology Development Centre in Tech City and will support local technology development with packages of support for Developer Apprentices.

RIM will also start working with the training provider, Skills Matter, working with the start-up community on the enterprise uses of mobile. It will launch with a BlackBerry 10 developer event in January.

A Patent Box Scheme; will come into force in April 2013 to lower corporation tax on the earnings from a company’s own innovations.

“The statement may be reflective of the tough economic climate we’ve endured this past 12 months – but it also reflects a growing need for all businesses to re-evaluate what they’re doing, how they’re doing it and take better steps to reignite innovation to map Britain’s future growth,” said Ben Dowd, O2 business director.

“I believe that as we move into the New Year, big businesses have a greater role to play in leading by example, to help drive transformation and fuel a more progressive, digital Britain.”