Chancellor confirms £270 million investment in Quantum technology

04 December 2013

The Chancellor of the Exchequer, George Osborne, has confirmed £270 million worth of investment in Quantum technology, ahead of the Autumn Statement.

George Osborne The Chancellor of the Exechequer, George Osborne, speaking at the Royal Society in 2012.

The Government has identified Quantum technology as an area of cutting-edge scientific research that has the potential to deliver huge benefits for the British Economy. The Chancellor said that science was a personal priority of his and that the Government would continue to prioritise the long-term investments needed to compete in the global race. The funding will be provided over a period of 5 years.

Responding to the announcement this afternoon, Sir Paul Nurse, President of the Royal Society, said:

“This investment is further evidence of the government’s commitment to backing science as a driver for long term sustainable economic growth.  There are few sectors where the UK can really claim to have a competitive advantage to build upon but science is one.  Alongside the announcement earlier this week of £200 million to support collaboration between UK and Chinese scientists, today’s announcement shows that this government recognises winning potential and backs it.”  

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