Despite the Chancellor including innovation as one of three 'growth priorities', changes to R&D tax credits could impact the SMEs developing new technologies that will solve global challenges and bring green economic growth. This is a concern and we will monitor carefully.
Whilst the Chancellor’s announcement provides a welcome increase to the education budget, this still represents a real-terms cut, which is a concern for the longer-term future of the science sector and for supporting and retaining inspirational teachers and technicians. Another significant risk is of cuts to the resources needed to ensure practical work can be delivered effectively in schools. Access to high quality practical science is essential in training the future generations of scientists who will maintain our position as a science superpower and deliver the UK’s net zero transition.