In his first budget, the Chancellor of the Exchequer outlined more details of Government plans to support research and innovation.
Following the investment in research set out in the 2016 Autumn statement, the Government has shown further commitment to research and innovation with the announcement of support for research talent.
Professor Sir Robert Lechler PMedSci, President of the Academy of Medical Sciences responded to the news:
“Britain’s scientific power relies on harnessing the talent of the next generation. So news of around 850 new PhD places in STEM subjects, and £160 million to support new fellowships for early and mid-career researchers is to be applauded.
“As we highlighted in our joint Academies report, Open for Business, we need to attract the brightest minds from around the world to our laboratories if we are to maintain the UK’s position as a world-leader in research and innovation. Therefore, we are delighted that the Government has announced that it will increase its investment in attracting talented researchers from around the globe to the UK.
“The Chancellor’s announcement also provided further details on how the Industrial Strategy Challenge Fund will be spent and we welcome the allocation of some of these funds to biotechnology research.
“Although these announcements are very welcome, if we are to remain a global player in science we need to aim for a 3% GDP spend for research and development.”