20 October 2010
Chancellor George Osborne unveiled details of the Spending Review today, announcing that the UK’s science budget will be frozen in cash terms.
In response to the announcement President of the Royal Society Lord Martin Rees said:
“The flat cash settlement for the core science budget is very welcome news in the context of this extremely tough Spending Review. The government has recognised the importance of sustaining the international standing of UK science in a context where other nations are forging ahead. The support of science is crucial not only to the strength of our education system, but to economic recovery and the solution of global problems. There remain areas of concern, especially with regard to capital spending, and the funding of universities. But this outcome enhances our optimism that such issues can be addressed on the basis of a genuine realisation that it is in the UK's interests to remain among the world leaders in key areas of science and innovation.”
For full details on the Spending Review visit www.hm-treasury.gov.uk.