Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the 2020 Spending Review and the £800 million allocated to the high-risk, high-reward programme, when the remaining £750 million will become available, and whether this will be in phases or in one instalment.
In the Spending Review the Government announced an annual profile for high-risk, high-reward research rounded to the nearest £0.1bn. This profile is £0.1bn in 2021-22, £0.3bn in 2022-23, £0.3bn in 2023-24 and £0.3bn in 2024-2025.