Scientific Research and Development

Lord Haskel Excerpts

Monday 7th July 2014 Lords Chamber

[Lord Ahmad of Wimbledon]

As ever, the noble Baroness speaks with great experience. The Government recognise the importance of business investment in R&D and we are looking to give this great encouragement. R&D tax credits are the single biggest form of government support for business investment in R&D and are available to all sectors. In 2011-12, the R&D tax credit scheme supported an estimated 73% of UK business. However, I agree with the concern aired by the noble Baroness. It is important that we keep the best and the brightest in Britain working for British companies.

[Lord Haskel (Lab)]

Each government department had an independent scientific budget under the management of the scientist. That was a very important part of the Government’s research budget, but that budget seems to have disappeared. Can the Minister tell us what happened to it?

[Lord Ahmad of Wimbledon]

It is important to recognise that the Government are currently consulting. I have already talked of the new strategy that will be outlined in the Autumn Statement and the consultations we have had. The strategy will be led by Sir Mark Walport who is the Government’s Chief Scientific Adviser. It will draw on external experts both in government and outside, including those with experience of successfully commercialising science, and will identify what is best. What we deliver as a country is more important than what we deliver as individual departments.