This two page briefing outlining the key findings and messages for policy makers of the new report commissioned by CaSE, 'The Economic Significance of the UK Science Base'.
- Public expenditure on science and engineering research is an investment that generates economic growth
- There is a complementary relationship between industry and public sector research and development (R&D)
- Synergy between the public and private sectors is vital to generate economic growth
- Putting money into UK public sector R&D attracts private investment from overseas
- Public investment in research increases rather than diminishes private sector investment
- Investment in science and innovation is not and should not be seen as a zero-sum game in which public and private investment can substitute for each other
- The public sector can play an important role by connecting public and private research
- Publicly-funded academics are among the most outwardly engaged researchers
The report was commissioned by CaSE and funded by a consortium of CaSE members: British Pharmacological Society, The Geological Society, The Institution of Engineering and Technology, Institute of Physics, The Royal Society of Chemistry, Society of Biology.