It is expected to include ‘substantial real terms increases in government investment worth £2billion per year by 2020 for research and development’. There will be a focus on the role of business and a new Industrial Strategy Challenge Fund to back priority technologies. The announcement is also expected to include a review of current R&D tax incentives.
Venki Ramakrishnan, President of the Royal Society commented: "Science and innovation are among the UK's greatest strengths and are key to our future. By placing them at the heart of our industrial strategy the Prime Minister is setting out a progressive vision for a country where the fruits of knowledge can spur economic growth and improve people's lives. We look forward to seeing further details of the Government's plans."