Autumn Statement 2016

Today the Chancellor, Philip Hammond delivered his first Autumn Statement.

He outlined an additional £4.7 billion for research and development, by 2020, from the newly announced National Productivity Investment Fund (NPIF).

Our chief executive, Dr Robert Parker, says: "We welcome this signal of the government’s commitment to UK research and development. The UK’s world-leading science and innovation system creates growth and high-productivity jobs around the country.

"We look forward to seeing how this promise of funding will be used to support research and innovation, from ground-breaking discoveries through to applications that drive economic growth."

Through the NPIF, the government will establish a new Industrial Strategy Challenge Fund, aiming to support collaborations between businesses and the UK’s research base. Access to sources of funding for this type of collaboration was identified as a major issue in our Open For Business report on university-business engagement.

Robert Parker adds: "Stable long-term investment in our science base is vital to ensure we maintain our position as a world-leading knowledge economy, with science and innovation advancing knowledge, fostering growth across the UK and developing solutions to global challenges. This stability is particularly important at the present time of uncertainty.

"Science in the 21st century is truly global and we are as committed as ever to enabling our community to continue to forge links across nations and disciplines.

"To deliver on its ambition for Britain to become ‘the global go-to place for scientists’ the government must match today's positive announcements about R&D funding with an equally clear signal to reduce the current uncertainty about EU researchers from outside the UK who are working here."