(1 year, 6 months ago)
Commons ChamberHaving worked on coalfield regeneration in the north-east, I am delighted to report that it is becoming a science and technology powerhouse economy in the UK. I have been up three times since taking on this role, particularly to see NETPark, the extraordinary north-east technology park, whose third phase of expansion has now been announced. We put £5 million into helping it grow, and world-class companies such as Kromek are now there. We have also put £5 million into the Northern Accelerator in collaboration with six north-east universities, and we have nine Catapult hubs in the north-east. Let us say it loud and clear: the north-east is building the new economy of tomorrow.
Led by Durham University, the Northern Accelerator has invested more than £100 million in partner university spin-outs in the past five years, bringing skilled jobs and opportunities to my constituents and across the region, but if the Minister is really serious about levelling up Durham, can he explain why the north-east receives just 4% of Research England’s budget and six times less money than London?
I pay tribute to the hon. Lady’s leadership on this issue, because it is really important. Traditionally, our research funding follows excellence, and that is why, say, Northumbria University has shot up the league tables in the last few years from 42nd to 16th—it is knocking on the door of the Russell Group—and the northern universities are delivering increasingly excellent science. But there is something else. Last year there was £50 billion-worth of private investment in research and development, which is matching the public investment, and as we go to £20 billion of public R&D, a wave of private money will start to come into the north-east. The answer to her question is that this is about building the applied science into the industries of tomorrow, which the north-east is doing.