2015 Spending Review

In the Government’s Spending Review and Autumn Statement, Chancellor George Osborne has committed to protecting the £4.7 billion science budget in real terms until the end of the Parliament.

Campaign for Science & Engineering - an independent advocate for science and engineering - Acting Director Naomi Weir said: “I’m delighted to hear the Chancellor backing science with real investment for the next five years. This announcement is great news for the UK and provides a platform to build on for future success.”

The science budget will include a new £1.5 billion Global Challenges fund to ensure UK science takes the lead in addressing the problems faced by developing countries whilst developing our ability to deliver cutting-edge research.

Chancellor Osborne also announced the planned budget for health research, Innovate UK, science capital commitment and general scientific research.

Health research

• £5 billion for health research and development.
• Up to £150 million investment for the launch of a Dementia Institute.
• New £1 billion Ross Fund, partnered by the Bill and Melinda Gates Foundation, to support the global fight against malaria.
• Launch the Global Antimicrobial Resistance Innovation fund in partnership with China.
• £10 million for the expansion the Healthcare Innovation Test Bed programme.
• £250 million for the 100,000 Genomes Project to introduce whole genome sequencing technology in the NHS, including funding for Genomics England.
• £400 million to fund Public Health England labs in Essex to help combat threats such as flu and Ebola.

Innovate UK

• It will retain its clear business focus and separate funding stream.
• Integration of Innovate UK into Research UK in order to strengthen collaboration between the research base and the commercialisation of discoveries in the business community.
• New finance products to support companies to innovate following best practice in countries such as France, Finland and the Netherlands. These will replace some existing Innovate UK grants, and reach £165 million per year by 2019-20, so that total Innovate UK support is maintained in cash terms.

Capital Investment

• Up to £150 million (total capital and resource) to launch a competition for a Dementia Institute, to build on the UK’s strengths in medical research.
• £75 million for the University of Cambridge’s Cavendish Laboratories.

General research funding

• The government will take forward a review of the Research Excellence Framework in order to examine how to simplify and strengthen funding on the basis of excellence, and will set out further details soon.
• Over £1 billion funding for aerospace and automotive technologies for 10 years in cash terms will be provided.
• £250 million for ambitious nuclear research and development programme.