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Initial response to 2024 Autumn Budget

30 Oct 2024

CaSE’s initial response following the 2024 Autumn Budget delivered by Chancellor, Rt Hon Rachel Reeves MP.

I am pleased to hear such positive support for UK R&D and innovation from the Chancellor, and recognition that, if supported, it will drive economic growth. We also know the public care about this, with 70% of people saying it is important for the Government to invest in R&D. Seeing this reflected by Government is unequivocally a good thing.

Beyond the positive intent, it is the detail we must now turn to. It is reassuring to hear pledges to protect core R&D funding and to increase DSIT’s R&D budget, but it will take time to unpack and understand what this means in practice. We look forward to receiving more detail about DSIT’s budget allocations to enable us to build a fuller picture of the changes announced.

Dr Alicia Greated
Executive Director, CaSE

Following further analysis and conversations, we understand that, based on the increase to the DSIT R&D budget, the worst case of a significant cut to other R&D investment following a ‘tuck under’ of Horizon Europe association costs will not materialise.

This is good news for the R&D sector, and fantastic result for our advocacy efforts over recent weeks. However, we won’t know the full picture until we get sight of the complete DSIT spending allocations in the coming months.

Dr Daniel Rathbone
Deputy Executive Director, CaSE

CaSE will publish a more detailed analysis of the Budget tomorrow.