Royal Society responds to the Spring Budget

15 March 2023

Responding to Chancellor Jeremy Hunt’s Spring Budget, Sir Adrian Smith, President of the Royal Society, said: 

“Today’s Budget rightly puts science and technology at the heart of the UK’s economic future. 

“After a prolonged period of uncertainty, the Government urgently needs to deliver on its pledge to associate to Horizon Europe, and set out a longer-term, cross-party plan for science. This is vital to restore confidence among global research talent and investors that they should build their futures in the UK.

“We do have internationally recognised strengths in a range of sectors expected to transform society and the economy in the coming decades. The pledged reforms to R&D tax credits and support for fledgling companies to become globally competitive are important. Sustained government investment is also needed in basic research and discovery to fuel the innovations of tomorrow.

“We would very much welcome universities and research institutions being central to plans for the 12 UK investment zones unveiled today. Developing research and innovation clusters around regions’ existing research strengths is key to increasing the prosperity in parts of the UK that have suffered from historic under investment. Having the right skills in the right place will also be integral to the Government’s levelling up and science superpower ambitions.”