Treasury Support for UK Science
Debate between Craig Williams and Chris Green(9 years, 1 month ago)
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Chris Green
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.
Craig Williams (Cardiff North) (Con)
I commend the hon. Member for Penistone and Stocksbridge (Angela Smith) for securing this debate and for the manner in which she has conducted it.
Some 68% of Welsh universities rely on UK Government funding, and the ring fence that my hon. Friend the Member for Bolton West (Chris Green) has touched on is extremely welcome. The universities are very much looking to the end of this month. I commend GE Healthcare for the work that it has done in my constituency. It has worked with the university, using the block funding, to build an innovation campus and to work with the public and private sectors, much as he has described. They are working together to invest in the Government’s long-term economic plan, but they are also creating jobs in Cardiff.
Chris Green
Our national Government have a huge role in ensuring that we have strong science throughout our United Kingdom. There are many great instances in Wales. I used to do a great deal of travelling up and down the country in my previous job, and I recognise that there is investment right across our United Kingdom, as far as the University of Highlands and Islands in Thurso. It is a bit of a long trek up there, but it is fantastic to see investment right across the country. We must reflect on the needs and benefits that exist in our thriving scientific sector.