Brexit: EU 'in a very, very difficult position' due to protocol row
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As part of Britain’s drive to become a science superpower, the Government has vowed to ramp up public spending on R&D to £20billion in 2024–25. This represents a £5billion increase per year, which the Government claims will help to “cement the UK’s position as a global science and technology superpower”. And part of this plan will require the UK to revitalise the existing system of science, research and innovation.
It now looks as though the Government is poised to capitalise on the lack of red tape, something which may once have held back its science sector.
The Government’s The Benefits of Brexit document reads: “We are creating a world-class research and development ecosystem including by establishing the UK Advanced Research and Invention Agency (UKARIA).”
It adds that it will commission “independent reviews of research bureaucracy” and change the “research, development and innovation organisational landscape “to build a research system that is “fit for the future”.
The report adds that the UKARIA will “operate with minimal bureaucracy and with autonomy from government”.
This, the documents states, will empower “the world’s most brilliant and innovative minds to solve some of our most pressing challenges and undertaking high-risk, high-reward research”.
Chancellor Rishi Sunak first pledged to boost R&D spending to £20billion back when he unveiled the autumn budget in October.
The £5billion extra annually will see a 33 percent increase to the current research budget of £15billion a year.
Mr Sunak also announced the Government target to invest 2.4percent of GDP in R&D across the public and private sectors.
Sir Jeremy Farrar, who is director of the Wellcome Trust, told the BBC back in October that this was a good step forward given the challenges posed by the pandemic.
He said: “We welcome the government’s ongoing commitment to making the UK a science superpower.
“But it will need to continue to increase investment in science to catch up with other leading science nations.
“The UK’s investment in R&D as a proportion of GDP lags behind the OECD average, and it will take time to change that.”
Boosting R&D was also an important part of Secretary of State for Levelling Up, Housing and Communities Michael Gove’s plan to revitalise struggling towns in Red Wall areas.
These are traditional Labour stronghold seats in the North and Midlands that were snatched up by the Conservatives in the 2019 election.
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R&D spending is crucial for innovation, which in turn creates high paid jobs.
Mr Gove has now promised to deliver “billions of pounds of investment that can turbo-charge growth in the North and Midlands”.
Currently, R&D spending appears to be South-East centric with London, Oxford and Cambridge, accounting for 46 percent of public and charitable R&D in the UK.
And despite the announcement of an R&D boost, this £20billion target is still £2billion less than originally earmarked by the Conservatives.
Instead, Mr Sunak said the £22million target would not be reached until 2026-2027.
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