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The UK government has announced an £86 billion funding package for the science and technology sector to support research into drug treatments and longer-lasting batteries. This initiative is part of Chancellor Rachel Reeves’ upcoming Spending Review, which will outline departmental and investment budgets for the next few years. The Department for Science, Innovation, and Technology (DSIT) stated that up to £500 million will be allocated to regions in the UK, with local leaders having a say in how the funds are used.
The funding will reach every corner of the country, allowing communities to direct resources to expertise specific to their areas. In Liverpool, funding will accelerate drug discovery efforts, while Northern Ireland will focus on developing defense equipment. Additionally, south Wales will use the money for designing microchips to power mobile phones and electric cars. Chancellor Rachel Reeves emphasized the importance of investing in science and technology to create jobs, enhance security, and improve the lives of working families.
Despite the positive reception of the funding, experts have raised concerns about the government’s need for a long-term plan to train workers. Tony McBride from the Institute of Physics stressed the importance of preparing a skilled workforce to support the industrial strategy. Furthermore, John-Arne Rottingen from Wellcome cautioned that visa costs for international scientists, financial challenges in universities, and a budget not adjusted for inflation could impede the government’s ambitions. The goal is for the UK to lead the G7 in research intensity to drive economic growth and advancements in health, science, and technology.
Chancellor Rachel Reeves indicated that her Spending Review will reflect a tight constraint on government funding due to economic realities. She emphasized her commitment to fiscal rules on borrowing for public services, citing conservative mismanagement of the economy as the reason behind the current constraints. The Treasury, earlier this year, approved the chancellor’s fiscal rules to ensure that day-to-day spending aligns with tax revenues, with borrowing only for investment purposes. While favored departments are expected to receive significant allocations, the overall tone of the upcoming spending review has been described as “ugly” by Whitehall insiders who revealed that ministers have been vying for limited resources for their respective departments
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