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It is a pleasure to serve under your chairmanship, Mr McCabe. I offer my congratulations to the hon. Member for Penistone and Stocksbridge (Angela Smith) on securing this debate on UK science. It is an important subject, and it is great to be able again to make the case on behalf of the UK science industry before the spending review. British science is world-leading in many areas, is highly productive, has the capacity for increased investment while maintaining its productivity and is vital in maintaining our competitive advantage.
As the hon. Lady said, the UK population represents only 0.9% of the world population, but produces 15.9% of the top-quality research findings. A productive research environment must have Government investment in science capital and resource, such as the National Graphene Institute, which will secure Manchester as a leading centre of graphene research and commercialisation. We should not allow the UK’s current and historic strength in science and research to lead to complacency. Having worked in the mass spectrometry industry for nearly 20 years, I know that our science enables world-leading businesses to flourish in Britain, often producing the low-volume but high-value goods that we need. Jobs in science are often the most rewarding and interesting. They also encourage entrepreneurship and the development and commercialisation of innovative technologies.
The hon. Gentleman makes an important point. Research, investment and experience in facilities can often attract investment such as we have seen in Southampton, where Lloyd’s Register has come to the Boldrewood campus of the university, providing the biggest link-up that we have in this country between a university and a commercial enterprise.
It is always good to hear such fantastic examples of link-ups. I am sure all the Members here will have many other such examples.
Science strengthens economic growth, productivity and the UK’s ability to compete in an increasingly competitive market, as was highlighted earlier. It is a highly effective way to invest public money to drive economic growth. Although we in Britain invest less in research and development than many of our competitors, it is not because of the lack of excellent opportunities for research. We can significantly increase our research investment without reducing the quality of the research. That will then increase the base from which innovation and commercialisation starts.
The past five years were about creating economic stability, and it was right that the Government protected the science budget, but the next five years must be about building upon what we have secured. The science and research ring fence was an important signifier of the Government’s commitment to the value of research. The flat-cash protection has maintained the UK’s position during a time of economic uncertainty. Now we should be planning and investing so that we encourage further investment to build and create the industries that we as a country want. By investing in science through the dual support system with a mix of project-based and institutional-level funding, the Government leverage investment from charities and industry, generating further scientific and economic growth. It is estimated that each additional £1 of public funding has the potential to give rise to an increase of up to £1.60 in private funding for both industry and charities.
A strong science industry is a vital base for preparing for our future needs in many policy areas, such as food security, national security, antimicrobial resistance, health innovation and meeting the needs of an ageing population. Government investment levels must take that into account when we decide what message we want to send to investors in Britain and across the world.