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Minister for Digital and Culture Matt Hancock has given a speech at the Institute of Directors Conference in London. He said that encryption and cyber security are a crucial part of our modern economy. He said both are at the heart of the Government’s National Cyber Security Strategy (NCSC). They are aware that one in three small firms, and two in three large businesses experienced a cyber breach or attack in the past year. He said the the costs of a successful attack can be huge because over 95% of businesses have internet access, over 60% of employees use computers at work, and the internet is used daily by over 80% of adults - and four out of five people in the UK bought something online in the past year.