On 28 September, Chief Secretary to the Treasury, Chris Philp, warned that the government would be seeking “efficiency savings” in Whitehall spending and “iron discipline” in public spending. Commentators have speculated that capital investment may be targeted, including cuts to R&D.
R&D delivers the wealth creators for growth plan
CaSE Executive Director, Professor Sarah Main, said:
“The Government’s plan for growth needs a cast iron commitment to R&D at its heart. R&D investment supports the innovators, inventors and people with wealth-creating ideas that will deliver the growth the Government is seeking. It is an investment in people and the environment they need to thrive and innovate.
“Investment in research boosts the economy, attracting entrepreneurs and private investors. Every pound spent on research generates an estimated 30p return every year, forever1. It also helps nurture a skilled and resourceful workforce in the UK that attracts businesses from abroad to locate here.
“This administration has indicated that it recognises science, research and innovation as a golden asset for the UK’s future. Cuts to R&D budgets would present a real threat to growth. Whilst balancing growth and efficiencies, I urge the Government to recommit to its R&D investment plans and place research at the heart of their strategy for growth.”
Today the Department for Science Innovation and Technology (DSIT) have published their proposed alternative to Horizon Europe, Pioneer.
CaSE’s initial response to the Chancellor, Jeremy Hunt’s, Spring 2023 Budget.
The Government has published the findings from the Nurse Review which highlights recommendations to improve the research landscape to deliver on the Government’s R&D ambitions.
Today the Government announced its Science and Technology Framework which highlights 10 actions it will centre on. CaSE responds to the announcement.