“Future economic success depends on future scientific success”
18 Mar 2015 by Evoluted New Media
This year’s budget – the last of the current government – has seen Chancellor George Osborne announce several changes in the areas of research funding, scientific institute freedoms, and postgraduate support.
Funding of £138 million has been announced for research into the infrastructure and cities of the future. This investment is part of the government’s strategic science and innovation plan to make UK a global leader in emerging markets and technologies. The funding will go towards the UK Collaboratorium for Research in Infrastructure and Cities (UKCRIC).
The UKCRIC will aim to ensure that the UK’s infrastructure is resilient and responsive to environmental and economic impacts. It is planned to have hubs in London, and further centres initially in Birmingham, Newcastle, Sheffield and Southampton.
Osborne said: “We’re committing almost £140 million to world class research across the UK into the infrastructure and cities of the future, and giving our national research institutes new budget freedoms”.
The government also promised to provide the UK’s world-leading Research Institutes with greater freedom in order to attract scientists, re-invest commercial income, and develop cutting-edge technology.
In the chancellor’s speech a package of measures to widen and strengthen the support for postgraduate researchers has also been announced. This package will launch a review of how to strengthen the UK’s funding for postgraduate research to ensure UK remains internationally competitive. It will also include options for increased support for co-funded research.
The package will introduce income contingent loans of up to £25,000 to support PhDs and research masters. These loans will be in addition to existing funding, and designed to minimise public subsidy.
“Future economic success depends on future scientific success. So we’ll add to the financial support I announced at the Autumn Statement for postgraduates, with new support for PhDs and research-based masters degrees,” said Osborne.
