Budget 2024 submission

10 September 2024

Investing in science, research, and innovation is essential for driving economic growth, creating high-value jobs and solving major societal challenges. In this policy submission to the Chancellor ahead of the 2024 Budget, the Royal Society sets out practical recommendations for how the UK government can cement the country's status as a global science and innovation leader.

The submission identifies key areas for action, from providing stable, long-term funding for R&D to strengthening the UK's capabilities in cutting-edge technologies like AI and clean energy. It also outlines bold proposals to reform the education system, attract top international scientific talent, and to protect biodiversity and our climate for future generations. 

There is more we must do to ensure that the UK is home to the next generation of cutting-edge scientific talent, discovery, innovation and technology – and to unlock the benefits of science to improve people’s lives and the lives of future generations. This includes:

  1. Kickstarting sustained economic growth supported by stable, long-term investment and commitment to science, R&D and innovation
  2. Showing the UK is open for business to global investors and researchers
  3. Breaking down barriers to opportunity and unlocking the skills of the future through reform of our education system
  4. Growing the UK’s AI, data and supercomputing capabilities and provide global leadership to safely harness the benefits of AI for society
  5. Accelerating plans for the clean energy transition, including immediate plans for low-cost hydrogen energy storage to strengthen the UK’s energy security
  6. Protecting our natural resources: treating biodiversity loss with the same urgency as climate change

Science is a long-term enabler of opportunity. Investing in skills and scientific capabilities today lays the foundation for the UK’s future prosperity and international competitiveness. The UK government can spark a new era of scientific and technological breakthroughs that improve lives, boost productivity, and solidify the country's position as an internationally respected hub of innovation. Download the full Budget submission to find out more.