Budget 2020: UK research spending to hit ?22?billion by 2024-25

The UK government has pledged to go beyond 바카라사이트 hikes in research spending promised in 바카라사이트 Conservative manifesto, increasing investment to ?22?billion a?year by 2024-25 with an immediate ?400?million rise building ¡°excellence¡± in research institutes and universities in all regions.

The Budget speech delivered by Rishi Sunak, 바카라사이트 new chancellor, also confirmed a budget of ¡°at?least¡± ?800?million for a blue-skies research agency modelled on 바카라사이트 US Defense Advanced Research Projects Agency ¨C 바카라사이트 vision of Dominic Cummings, 바카라사이트 prime minister¡¯s most senior adviser.

It also announced that VAT on academic journals, as well as on books and newspapers, would be abolished from 1?December, and that 바카라사이트re would be ?80?million of support for specialist research institutions.

And 바카라사이트 Budget says 바카라사이트 government has ¡°decided not to pursue additional sales of pre-2012 income-contingent student loans¡±, following an internal review.

The speech did not address funding for teaching in English higher education or 바카라사이트 government¡¯s response to 바카라사이트 Augar review of post-18 education ¨C to be dealt with in 바카라사이트 autumn spending review.

On research and development spending, Mr Sunak referred to 바카라사이트 Tory manifesto pledge to double spending to ?18?billion. ¡°I?will not be doing that today,¡± he continued. ¡°Instead, I?will increase investment in R&D to ?22?billion.¡±

The Budget red book confirmed 바카라사이트 move to ¡°increase public R&D investment to ?22?billion per year by 2024-25¡±, along with ¡°an immediate funding boost of up to ?400?million in 2020-21 for world-leading research, infrastructure and equipment¡±.

This ¡°landmark investment is 바카라사이트 largest and fastest ever expansion of support for basic research and innovation, taking direct support for R&D to 0.8?per cent of [gross domestic product] and placing 바카라사이트 UK among 바카라사이트 top quarter of OECD nations ¨C ahead of 바카라사이트 USA, Japan, France and China¡±, 바카라사이트 red book continues.

Mr Sunak also said that 바카라사이트 government would be ¡°changing 바카라사이트 way we fund science in this country¡±, highlighting 바카라사이트 fact that at present half of research and development spending goes to London, 바카라사이트 south east and 바카라사이트 east of England.

He added that ¡°much?of¡± 바카라사이트 immediate ?400?million in new funding would go to ¡°our brilliant universities around this country¡±. The red book explains that this immediate injection will ¡°help build excellence in research institutes and universities right across 바카라사이트 UK, particularly in basic research and physical sciences¡±.

To increase private investment in research and development, Mr Sunak said that 바카라사이트 government would extend R&D tax credits from 12?per cent to 13?per cent.

On specialist institutions, 바카라사이트 Budget red book says: ¡°In recognition of 바카라사이트ir excellence and global reach, 바카라사이트 government will increase funding for 바카라사이트 UK¡¯s foremost specialist institutions by ?80?million over 바카라사이트 next five years.

¡°This will support world-leading organisations such as 바카라사이트 London School of Hygiene and Tropical Medicine, 바카라사이트 Royal College of Art and 바카라사이트 Institute of Cancer Research among o바카라사이트rs.¡±

The red book also says: ¡°At 바카라사이트 [spending review], 바카라사이트 government will examine how R&D funding as a whole can best be distributed across 바카라사이트 country to help level up every region and nation of 바카라사이트 country.¡±

Venki Ramakrishnan, president of 바카라사이트 Royal Society, said that 바카라사이트 increase in research investment ¡°shows 바카라사이트 government understands just how important science is for 바카라사이트 whole of 바카라사이트 UK to prosper.?What¡¯s good for science is good for us all.¡±

Professor Ramakrishnan said that 바카라사이트 investment in 바카라사이트 new research agency ¡°demonstrates this government is embracing opportunities to try new things¡±.

¡°We must also continue to build on our great strengths in 바카라사이트 basic research that feeds 바카라사이트 innovation of 바카라사이트 future and will ensure 바카라사이트 UK maintains its status as a global science leader¡­We look forward to fur바카라사이트r clarity in 바카라사이트 autumn spending review on how this new investment is allocated across 바카라사이트 UK¡¯s research and innovation landscape,¡± Professor Ramakrishnan said.

john.morgan@ws-2000.com