Chancellor confirms £270 million investment in Quantum technology

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

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.”