In response to the boost to R&D announced on Monday 20 November and the Autumn Budget, Professor Sir Robert Lechler PMedSci, President of the Academy of Medical Sciences, said:
“I was pleased to see the Prime Minister’s commitment earlier this week to supporting the UK’s leading position within global science and innovation.
“The additional £2.3 billion to be invested in 2021/2 and the commitment to increase spending on research and development (R&D) to 2.4% by 2027 builds on recent increases, and will create a vital launch pad to bring the UK closer to the long-term target of 3% of GDP.
“This commitment will help to provide a financial magnet in the UK for retaining and attracting R&D talent and investment from around the globe. I look forward to seeing further details in the Industrial Strategy White Paper about how this investment will support the creation of a wider environment that will allow UK research to continue to flourish.
“Today’s announcement from the Chancellor that the findings of the Patient Capital Review will be implemented, and the establishment of a new £2.5 billion fund, will help innovative UK firms to start and grow. Supporting these businesses will help to deliver health solutions for patients in the UK and beyond.”
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