Today, the Chancellor Phillip Hammond presented his budget to Parliament. In regards to science and innovation, there will be:
£300 million investment for new academic research placements:
£90 million to provide 1,000 new PhD places, including in science, technology, engineering and maths and £210 million will create new fellowships, including programmes to attract top global talent to conduct research in areas such as bioscience and biotechnology, quantum technologies, and satellite and space technology.
Sarah Haywood, CEO, MedCity responded to the budget:
“I’m pleased that science remains a priority for Government with £300m pledged to sustain the UK’s research talent and 1,000 extra PhD places for STEM subjects. This funding will support London and the South East to maintain its world-leading status for medical innovation; however, this cash injection must translate into opportunities for everyone.”
“As the Budget falls on International Women’s Day, only 1 in 10 UK biotech board directors are women and nearly half of boards are all male. We need to see change at the top; by improving selection processes, offering ‘board ready’ mentoring, and encouraging more women to reach up and reach out.”
“By setting an example at the helm, the diverse pool of talent to choose from will be expanded and there will be more opportunity for all talented people to participate in the leadership of some of our most exciting companies.”
HM Treasury Spring Budget: 21 Things you need to know: https://www.gov.uk/government/news/spring-budget-2017-21-things-you-need-to-know