Budget: Royal Society of Chemistry says science funding key to staying in global race

Responding to the budget, the Royal Society of Chemistry's Chief Executive, Dr Robert Parker, said: "The Chancellor is right to say that research and development is absolutely central to Britain's economic future. Science and innovation is crucial to business growth and exports.

"The government's sustained efforts to support the UK's science base are very welcome but public funding for science is set to fall by over 10% in real terms from 2010 to 2015. The UK government spends around 0.6% of GDP on science while our G8 competitors spend on average 0.8%.

"If the Chancellor wants to avoid Britain being outsmarted, this summer's spending review must increase our science funding to keep pace with our international competitors in the global innovation race."

In its Chemistry: we mean business paper, the chemical science community outlines its ten-point plan for a science-based return to economic growth.

Chemical sciences in the UK growth agenda: a ten-point plan

Internationally-competitive levels of research funding and infrastructure

1. Return Government investment in science and innovation to inflation-led growth, including capital expenditure
2. Ensure that innovation resources are targeted to strategically important growth areas. - A financial and regulatory environment that maximises the opportunities for knowledge transfer and innovation 
3. Provide support for SMEs to unlock private sector investment
4. Establish a supportive science-led regulatory environment
5. Facilitate multidisciplinary knowledge transfer by supporting data sharing. - The best talent pipeline in the world 
6. Establish a coherent strategy for vocational STEM training 
7. Provide incentives to strengthen industrial placements for students 
8. Develop an immigration strategy to attract and retain scientific talent
9. Extend the Initial Teacher Training scholarship scheme at secondary education level 
10. Establish an Initial Teacher Training scholarship scheme at primary education level