Budget nods at importance of science to economy but proof will be in the CSR

24 March 2010

Commenting on the Budget announced today, Sir Peter Williams FRS, Vice-President and Treasurer of the Royal Society said:

“With more and more of our competitor nations announcing increased funding for science – some of them significantly -  it’s going to be vital that the UK steps up to the plate and invests heavily in a sector that is one of our few genuine areas of economic advantage. Science has to be central to any long-term strategy for economic growth.

Today’s Budget shows some indication that Government appreciates the role science can play in re-building our economy. The funds earmarked for modernisation in universities and commercialisation of research are small but positive initiatives. However, we’ll see just how serious they are when money is allocated in the next Comprehensive Spending Review.”

The Royal Society published a new report at the beginning of March entitled The Scientific Century: securing our future prosperity which looks at the important contribution science makes to the UK’s economy. A full copy of the report can be downloaded here.