Response to Chancellor’s ‘mini budget’ statement
The Chancellor of the Exchequer, Kwasi Kwarteng, has made his first 'mini-budget' statement, saying: "We want businesses to invest in the UK, we want the brightest and the best to work here and we want better living standards for everyone."
In response, our Head of Policy and Evidence, Tanya Sheridan, said: "The Government’s mini-budget focused on steps to deal with the cost of living crisis, but it is important to remember the vital role UK science has to play in our economic recovery. Existing plans to increase spending on R&D to 2.4% of GDP and move the country to a net zero economy are essential to the success of any moves and must remain a priority.
"It was good to hear the Chancellor recognising the important contribution that our science sector makes to innovation and economic growth in our country, though there is much more detail required on his plans to make that a reality.
"While we recognise the wider political challenges around the UK associating to Horizon Europe programmes, association remains the best outcome for the research and innovation sector and the chemical sciences, and we urge the Government to continue to focus on finding an agreement with the EU.
"In parallel the Government now must urgently publish further detail on its longer-term alternatives to Horizon Europe and work with the research and innovation sector to ensure these alternatives provide the same combination of benefits for the UK. The Government must also continue to ringfence the funding earmarked for Horizon Europe programmes for alternatives and Third Country Participation."