Spending Review: RSC says capital increase is a welcome step forward for science

26 June 2013

But we need more comprehensive forward-thinking for Britain to stay ahead in the global economic race

Responding to today's spending review, the Royal Society of Chemistry's President, Professor Lesley Yellowlees, said:

"The Chancellor was right when he said investment in science is investment in our future. Britain's world-leading science is central to creating growth and jobs.

"We are very pleased that the government has heeded the science community's calls by protecting the science resource budget in cash terms and returning capital investment to 2010 levels, protected in real terms to 2020. The Chancellor's long-term vision is to be applauded. 

"But we need to see more comprehensive forward-thinking if we really want Britain to stay ahead in the global economic race. Over past decades our government's investment in research and development has slid towards the bottom of the international rankings - out of our G8 competitors, only Italy spends less as a proportion of GDP. 

"A commitment from all sides of the debate to raise total government investment in science to the EU average of 0.7% of GDP, by the end of the next Parliament, would set Britain on the path for science-fuelled growth."

Creating growth by staying ahead in science

To secure and maximise growth through science and innovation, we need a long-term commitment to our knowledge economy to win the global race.

To achieve this, politicians should:

  1. Commit to a long-term plan to return science funding to internationally competitive levels

  2. Consolidate innovation mechanisms to help convert research into growth

  3. Ensure people have the skills to take up new jobs in the inovation economy

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Creating growth by staying ahead in science
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Contact and Further Information

Victoria Steven
Media Relations Executive
Royal Society of Chemistry, Burlington House, Piccadilly, London W1J 0BA
Tel: +44 (0) 20 7440 3322