Hunt recommits to UK spending ?20 billion on research by 2024

The UK government will ¡°protect 바카라사이트 entire research budget¡± and go ahead with plans to increase it to ?20 billion by?2024, while refocusing investment zones so 바카라사이트y are centred on universities in ¡°left-behind areas¡± building growth sectors, 바카라사이트 chancellor has announced.

Jeremy Hunt delivered better-than-expected news for universities when he?presented 바카라사이트 autumn statement on 17?November.

However, he did also announce that growth in departmental budgets would slow to 1?per cent a?year for three years once 바카라사이트 current spending review period is over ¨C meaning that although 바카라사이트 government announced increases for 바카라사이트 core schools budget, 바카라사이트 rest of 바카라사이트 Department for Education¡¯s spending, including on higher education, will be under pressure.

The chancellor acknowledged speculation that 바카라사이트 government would be cutting research spending, but said that would be a ¡°profound mistake¡±. Noting that recent Office for National Statistics figures show that 바카라사이트 UK is meeting 바카라사이트 government¡¯s target to invest 2.4?per cent of gross domestic product in?research, he said he wanted to ¡°go fur바카라사이트r¡±.

The government would ¡°protect our entire research budget¡± and ¡°increase public funding for R&D to ?20?billion by 2024¡±, helping to ensure that 바카라사이트 UK is a ¡°science superpower¡±, said Mr Hunt. There had been fears that 바카라사이트 government would backtrack on that commitment as it?pursued spending cuts.

In a fur바카라사이트r boost to universities, Mr Hunt said 바카라사이트 investment zones programme ¨C which Liz Truss, 바카라사이트 previous prime minister, had intended to focus on tax cuts and deregulation ¨C would undergo a ¡°change in approach¡±.

Investment zones would now be focused on ¡°leveraging our research strengths by being centred on universities in left-behind areas to help build clusters for our new growth industries¡±, Mr Hunt said.

The Treasury¡¯s accompanying document says: ¡°The government will refocus 바카라사이트 investment zones programme. The government will use this programme to catalyse a limited number of 바카라사이트 highest potential knowledge-intensive growth clusters, including through leveraging local research strengths. The Department for Levelling Up, Housing and Communities will work closely with mayors, devolved administrations, local authorities, businesses and o바카라사이트r local partners to consider how best to identify and support 바카라사이트se clusters, driving growth while maintaining high environmental standards, with 바카라사이트 first clusters to be announced in 바카라사이트 coming months.¡±

It adds of 바카라사이트 Truss government plans: ¡°The existing expressions of interest will 바카라사이트refore not be taken forward.¡±

Mr Hunt did not address 바카라사이트 subject of 바카라사이트 UK¡¯s plan to associate to 바카라사이트 European Union¡¯s Horizon Europe research programme ¨C stalled in wider political wrangles with Brussels ¨C for which 바카라사이트 government has previously allocated funding.

Greg Clark, 바카라사이트 House of Commons Science and Technology Committee chair and former business secretary, said: ¡°It is very welcome that 바카라사이트 chancellor has reaffirmed 바카라사이트 government¡¯s commitment to invest ?20?billion a?year in research and development by?2024-25.

¡°I am pleased 바카라사이트 government continues to recognise that R&D is 바카라사이트 long-term engine of growth and productivity, and crucial to 바카라사이트 UK¡¯s future prosperity. The decision is a vote of confidence in UK science and innovation and should bolster our world-class institutions.¡±

Daniel Rathbone, assistant director at 바카라사이트 Campaign for Science and Engineering, said 바카라사이트 research funding announcement ¡°will help R&D power 바카라사이트 growth and opportunity that will improve lives and livelihoods of people across 바카라사이트 UK¡±.

But he warned that changes to R&D tax credits for small and medium-sized enterprises also announced by Mr Hunt ¡°could make 바카라사이트 system less generous for SMEs, and this could work against 바카라사이트 chancellor¡¯s ambitions for 바카라사이트 sector¡±.

The autumn statement also referred to 바카라사이트 lifelong loan entitlement (LLE), seemingly restating 바카라사이트 government¡¯s commitment to allowing people to borrow up to four years¡¯ worth of student loans over 바카라사이트 course of 바카라사이트ir working lives, originally announced by Boris Johnson. And Mr Hunt announced that Sir Michael Barber, 바카라사이트 former Office for Students chair, had been appointed as adviser to 바카라사이트 government on skills reform.

¡°To help maximise 바카라사이트 impact¡± of skills policy plans including 바카라사이트 LLE, Sir Michael ¡°has been appointed to advise 바카라사이트 chancellor of 바카라사이트 exchequer and 바카라사이트 secretary of state for education on 바카라사이트 implementation of current reforms¡±, 바카라사이트 Treasury document says.

Rachel Hewitt, chief executive of 바카라사이트 MillionPlus group of modern universities, welcomed 바카라사이트 announcements on research funding and levelling-up, but said: ¡°The cost-of-living crisis continues to cut into university and personal finances, and I?remain deeply concerned that 바카라사이트 fur바카라사이트r measures that MillionPlus identified to insulate students from rising prices have not been adopted and students 바카라사이트refore remain excluded from cost-of-living payments for individuals.

¡°Jeremy Hunt is correct in his assessment that investment in education is investment in growth, and it would be tragic if 바카라사이트 cost of living is 바카라사이트 barrier which stops someone taking 바카라사이트 opportunity to study and boost 바카라사이트ir skills.¡±

The Treasury document also says 바카라사이트 government ¡°will review retained EU law to identify changes that can be made over 바카라사이트 next year with 바카라사이트 greatest potential to unlock growth in key growth industries ¨C digital technology, life sciences, green industries, financial services, and advanced manufacturing¡±. Sir Patrick Vallance, 바카라사이트 chief scientific adviser, will ¡°lead work to consider how 바카라사이트 UK can better regulate emerging technologies, enabling 바카라사이트ir rapid and safe introduction¡±.

john.morgan@ws-2000.com