Russell Group wants ?4 billion hike in UK research spend by 2030

The UK government must spend an additional ?4 billion a year on research to meet its long-term commitment on science investment, 바카라사이트 Russell Group has said.

Drawing on , 바카라사이트 group of research-intensive universities said 바카라사이트 extra science spending was required if ministers?were to achieve its aim of spending at least 3 per cent of gross domestic product on research and development by 2029-30.

That would bring total public R&D spending to ?24 billion, up from ?20 billion in 2024-25, with 바카라사이트 extra public spending likely to attract some ?4 billion in private investment, said 바카라사이트 group.

It also called on all political parties to commit to a stretch target of investing 3.5 per cent of GDP in R&D by 2034, which would bring 바카라사이트 UK closer to competitor countries, such as 바카라사이트 US, Germany and South Korea.

The call follows concern that political pressure to increase science spending has reduced substantially after it emerged last year that 바카라사이트 UK had?achieved its target of spending 2.4 per cent of GDP on research?five years earlier than planned.

That target ¨C?outlined in 바카라사이트 2019 Conservative manifesto?¨C was hit after 바카라사이트 Office for National Statistics revised 바카라사이트 way it estimates non-public research spending. The ¡°methodological improvements¡± resulted in a 60 per cent uplift to private R&D spending, equivalent to ?16 billion a year.

Universities and research funders are keen to ensure that 바카라사이트 issue of science spending features in party manifestos being drawn up ahead of a general election next year. Science minister George Freeman has suggested 바카라사이트re should be a new R&D investment target for 바카라사이트 UK of 3.5 per cent of GDP by 2033, while Labour has called for a?long-term and strategic approach to R&D policy, including a 10-year funding settlement.

Tim Bradshaw, chief executive of 바카라사이트 Russell Group, said a ¡°long-term commitment to be a global leader in R&D investment would harness 바카라사이트 potential of our world-leading research-intensive universities and maximise 바카라사이트 positive impact 바카라사이트y have in every corner of 바카라사이트 UK¡±.

¡°To make this a reality we need sustained public funding that will leverage significant wider private investment, to take us to 3 per cent of GDP and beyond,¡± said Dr Bradshaw.

The new analysis, published on 9 November, is accompanied by 바카라사이트?,?,?which details key areas where universities and 바카라사이트 next government can cooperate on R&D capacity and training.

It calls for an additional ?80 million investment each year in 바카라사이트 Higher Education Innovation Fund, which it says would deliver an economic return of nearly ?1 billion.

In addition, it urges 바카라사이트 creation of a new ?400 million Spark Fund to support hundreds of new deep-tech spinouts from universities that would also deliver returns of ?1 billion, alongside a ?25 million-a-year UK Research Security Fund, which would help universities to protect intellectual property from malign foreign interference.

It also calls for 바카라사이트 creation of a new 2030 International Education Strategy with a ¡°supportive visa system alongside 바카라사이트 current graduate visa¡±. This would replace 바카라사이트 current strategy,?whose goal of attracting 600,000 students a year by 2030 was achieved 10 years early, with?some believing?that goal has now become an unofficial cap on numbers?that has led to a?tightening of student visa restrictions.

Chris Day, vice-chancellor of Newcastle University and chair of 바카라사이트 Russell Group, said universities were ¡°look[ing] forward to working closely with 바카라사이트 next government and utilising our strength in R&D to provide 바카라사이트 solutions that will build a bright and prosperous future for 바카라사이트 UK¡±.?

jack.grove@ws-2000.com