CaSE has submitted evidence to the Treasury ahead of the 2015 Spending Review which due to published by the Government in November.
CaSE’s submission to the 2015 Spending Review
15 Sep 2015
To deliver on its commitment of repairing Britain’s finances and move to a higher-wage, more productive economy, in its submission CaSE has called on the Government to nurture its means: science and innovation.
The UK cannot compete on cheap labour, capital reserves, or natural resources. We must instead play to our advantages in science and engineering. Government priorities set out in this Spending Review depend on science and innovation. In an increasingly competitive global economy, they will be the drivers of future innovation, productivity gains, and high-value job creation. A strong science base will also be vital for preparing the nation for future challenges, from climate change, food security and future cities, to antimicrobial resistance, national security and meeting the needs of an ageing population.
The Conservative Manifesto speaks proudly of the relative protection for investment in science in the last Parliament. And rightly so. However, in the current climate, anything short of a real terms increase to investment in R&D by the end of this Parliament would be short-sighted and damaging; scientifically, politically and economically.
To compete as a scientific, technological, and economic world-leader, and reap the benefits of global investment, the Government must set an ambitious upward trajectory for investment in R&D over the long term, at a rate that exceeds predicted growth by the end of the Parliament.
CaSE will be working with its members, collaborators and others from across the sector over the coming months, to help foster a strong and unified voice for science and engineering into the Spending Review.
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