Chancellor launches spending consultation
28 Apr 2014
Chancellor unveils plans to boost science, research and innovation expenditure in the UK.
Chancellor George Osborne informed delegates at the Laboratory for Molecular Biology, Cambridge on Friday of the government’s plans to launch a consultation on how it should spend £7 billion in scientific funding.
The consultation will provide the scientific community and businesses the chance to offer its opinion on how and where the money should be spent.
“New investment could enable scientists to search for particles that explain the dark matter that seems to make up the bulk of the material in our universe but still remains a theoretical mystery,” Osborne said.
I’m relying on you in this room and the scientific community to make sure we get it right
Chancellor George Osborne
“That research could potentially unlock nuclear fission – with massive economic benefits to this country and the world.”
In his speech, the Chancellor also outlined a number of British projects that are already benefiting from government investment.
Osborne revealed £200m funding committed to the design and build of a new polar flagship.
The ship, which is expected to enter service by 2019, will be capable of pushing deeper into Arctic and Antarctic pack ice than any other vessel.
Equipped with on-board monitoring systems and airborne robotic technology, the ship will be operated by The Natural Environment Research Council’s British Antarctic Survey.
“Our new £200 million polar flagship will be the most advanced oceanographic research vessel in the world,” Osborne said.
“And will mean scientists can do research for more of the year, can reach areas they’ve never been able to penetrate before, and will be able to bring back huge amounts of data on the ocean and marine biology,” he added.
“We have some tough and exciting decisions to make over the coming months – and I’m relying on the help of you in this room and the rest of the scientific community to make sure we get it right.”
Meanwhile, as part of the government’s long-term economic plan, Osborne highlighted some of the areas in which British science would benefit:
These are:
- Backing successful clusters like Cambridge
- Investing in the eight great technologies where Britain has distinctive strengths
- Helping innovators as they make the journey from the lab to the market
- Taking difficult decisions on other areas of public spending, so we can commit to unprecedented long term investments in science
