CaSE has today welcomed the Chancellor’s pledge of an extra £600m for new science funding as part of the Autumn Statement, the biggest single announcement of new research spending since the beginning of the coalition.
Our director, Imran Khan, said:
“We were hoping that the Chancellor would continue his trend of supporting science and engineering, and are really delighted with this new commitment – the total amount of new funding since 2010 has now reached over £1.5bn.”
“George Osborne’s consistency shows that he understands the UK must invest in becoming a high-tech nation. In the coming decades we won’t be able to compete internationally on natural resources or cheap labour, so building British excellence in areas likes synthetic biology and energy-efficient computing instead is absolutely critical. We applaud the Chancellor for supporting not only fundamental research, but also making science a bigger part of the UK’s industrial strategy.”
“We hope that the Chancellor’s next step is to back the recommendations of CaSE and Nesta’s ‘4Growth’ report, which is supported by figures such as Brian Cox and James Dyson and calls on the Government to strategically reinvest the £4bn proceeds from the forthcoming 4G spectrum auction back into science and technology. ‘4Growth’ highlights the once-in-a-generation opportunity that the UK has to continue the rebalancing of the economy, which the Chancellor has made a vital contribution to today.”
To coincide with the the Autumn Statement, CaSE have published an interim analysis of Government spending on science since the 2010 Spending Review. The analysis updates a 2011 report showing the previous cuts to research funding.