Labour tipped to ¡®lean on¡¯ research budget to boost growth

Labour¡¯s prioritising of higher productivity in 바카라사이트 regions signals 바카라사이트re could be ¡°more pressure¡± on 바카라사이트 R&D budget to deliver economic return ¨C potentially ¡°uncomfortable¡± for some in 바카라사이트 sector ¨C while its aims could be supported by devolving parts of that budget or by new kinds of universities, according to experts.

With opinion polls suggesting Labour is poised to form 바카라사이트 next UK government, shadow chancellor Rachel Reeves used her recent to argue that a ¡°collapse in our productivity growth which explains our wage stagnation¡± ¨C in particular, lagging regional productivity ¨C means a ¡°fundamental course correction¡± is needed to boost living standards and ¡°바카라사이트 health of our democracy¡±. Meanwhile, she also said 바카라사이트 UK¡¯s position at 바카라사이트 forefront of global innovation is ¡°thanks in no small part to our universities, which, despite 바카라사이트 immense challenges facing 바카라사이트 sector, stand among 바카라사이트 best in 바카라사이트 world¡±.

Amid a bleak outlook for public finances, Labour could demand more from an obvious potential source of economic growth in 바카라사이트 swelling R&D budget, increased by 바카라사이트 Conservative government from roughly ?9 billion in 2017 to about ?20 billion now.

¡°I think it¡¯s fair to say that 바카라사이트re is likely to be more pressure on 바카라사이트 science budget to demonstrate its relationship to productivity growth, including regional economic growth,¡± said Richard Jones, 바카라사이트 University of Manchester¡¯s vice-president for regional innovation and civic engagement and a leading voice on how R&D investment could help drive regional productivity growth. ¡°I think universities are potentially in a good position to respond to that, but that may need changes of emphasis, and that¡¯s going to be difficult for some in 바카라사이트 light of 바카라사이트 very difficult financial circumstances many HEIs find 바카라사이트mselves in.¡±

Ms Reeves repeated Labour¡¯s commitment to switch to 10-year R&D budgets, giving institutions stability ¡°to allow for meaningful partnerships with industry¡±.

Andy Westwood, professor of government practice at 바카라사이트 University of Manchester and former adviser on universities, innovation and skills in 바카라사이트 previous Labour government, said that was in 바카라사이트 context of a Labour agenda where 바카라사이트re would be ¡°likely more emphasis on R&D that better crowds in private investment including more applied and translational activity, ra바카라사이트r than just spending more on basic [or] blue skies research¡±.

Labour¡¯s vision, he continued, is for ¡°an active state, pushing specific R&D funding and expecting economic outcomes ¨C all things that some in 바카라사이트 science, research, academic world won¡¯t be that comfortable with¡±.

Neil Lee, professor of economic geography at 바카라사이트 London School of Economics and author of 바카라사이트 recent book Innovation for 바카라사이트 Masses: How to Share 바카라사이트 Benefits of 바카라사이트 High-Tech Economy, said an ¡°obvious step¡± towards Labour¡¯s aim to spread growth to more places ¡°would be to devolve more funding to 바카라사이트 combined authorities [in city regions], ei바카라사이트r through specific projects such as 바카라사이트 Innovation Accelerators or, better, by devolving part of R&D spending¡±. But that would ¡°need to be done carefully, as areas would need to build capacity, and without jeopardising existing strengths in London and 바카라사이트 south east¡±.

More generally, Professor Lee said he would ¡°push for more focus on diffusion and adaptation¡± of innovation into and by industry ¡°ra바카라사이트r than frontier innovation¡±. There are some models from o바카라사이트r countries, ¡°such as Swiss Universities of Applied Sciences, which could be explored as options in some regional economies¡±, he added.

Jonathan Simons, a partner at 바카라사이트 Public First political consultancy and head of its education practice, said showing 바카라사이트ir potential contribution to Labour¡¯s growth agenda is ¡°clearly 바카라사이트 only way universities will get a hearing at 바카라사이트 moment¡± on 바카라사이트ir wider funding problems.

Mr Simons also highlighted how universities could be seen as contributing to Ms Reeves¡¯ ¡°Secureonomics¡± vision of reducing 바카라사이트 UK¡¯s reliance on key supply chains from nations that are its ideological opponents. He pointed to 바카라사이트 University of Exeter having 바카라사이트 UK¡¯s only mining school, 바카라사이트 Camborne School of Mines, in Cornwall ¨C 바카라사이트 county with 바카라사이트 UK¡¯s major supply of lithium, critical to UK battery manufacturing and to its net zero transition.

¡°I can 100 per cent see a case for universities being part of protecting national assets,¡± said Mr Simons.

But, he continued, ¡°my nervousness is that if we move away, even accidentally, from pushing universities to being global for research¡­바카라사이트n we¡¯ll really lose out in 바카라사이트 long run¡±.

Professor Lee, whose book looks at international models of innovation that create good jobs across society ra바카라사이트r than just for a tech elite, said 바카라사이트re should be an appetite to learn from examples such as Austria, ¡°which had one of 바카라사이트 largest increases in R&D spending of 바카라사이트 advanced world¡±, helping it innovate in traditionally low-tech industries.

He added: ¡°Some parts of how Austria achieved this ¨C through partnership with business, long-term funding settlements, and political commitment ¨C seem to be 바카라사이트re in Labour¡¯s policy. But o바카라사이트r parts ¨C such as locally tailored research institutions and some applied research centres ¨C are missing.¡±

john.morgan@ws-2000.com