Oral Answers to Questions

Flick Drummond Excerpts

Tuesday 3rd March 2020 Commons Chamber

[Bim Afolami (Hitchin and Harpenden) (Con)]

11. What steps he is taking to increase investment in research and development.

[Mrs Flick Drummond (Meon Valley) (Con)]

13. What steps he is taking to increase investment in research and development.

[The Secretary of State for Business, Energy and Industrial Strategy (Alok Sharma)]

The Government are already increasing public spending on research and development by £7 billion over five years, the biggest increase in public funding for R&D on record. Every pound of public expenditure on R&D leverages a further £1.40 of additional private investment, generating even greater returns for the UK.

--- Later in debate ---

[Alok Sharma]

I am delighted that my hon. Friend is showing his characteristic commitment to innovation by supporting an agritech venture capital fund. As he notes, Rothamsted has a world-renowned reputation for agricultural research, and that is why UKRI has awarded £3.4 million to determine protein abundance in plants at that research institute. Either I or the Science Minister—the Under-Secretary of State for Business, Energy and Industrial Strategy, my hon. Friend the Member for Derby North (Amanda Solloway)—would be happy to meet him to discuss how the Government can support his proposals.

[Mrs Drummond]

I also welcome the emphasis that the Government are placing on research and development. Will my right hon. Friend tell me what further action is being taken on the proposal for a UK advanced research projects agency, following the departmental meeting last year?

[Alok Sharma]

My hon. Friend raises an important point. The UK is ranked fifth in the global innovation index, and our strengths in R&D mean that we are well placed to develop a new funding body to specialise in high-risk, high-reward projects. As I have said, I am absolutely determined that the UK should be a global science superpower, and my Department is making good progress on a UK advanced research projects agency. We are engaging with a wide range of researchers and innovators, and we will set out further plans in due course.