Today, MPs took part in a House of Commons debate on the Science Budget. This followed on from a report published by the Science and Technology Select Committee in November 2015, which highlighted that spending on science and innovation is a strategic investment that creates jobs, increases productivity and attracts inward investment.

The UK’s aerospace, defence, security and space sectors are successful and globally competitive, but global competition is increasing and other countries want a piece of the market. Investment in science and innovation is therefore a key priority in order to strengthen the UK’s competitive advantage and grow the UK’s share of the global market. It also helps to create high-skill jobs and develop high-tech exports right across the UK.

In a recent submission to the Science and Technology Select Committee, ADS recommended how the Science Budget and innovation funding could be maximised to benefit the UK:

  • Balancing funding between basic and applied research to help effectively pull through technology from the UK’s world-class science base.
  • Aligning innovation strategy with industrial strategy so that investment in research supports the growth agenda, by prioritising programmes that can be shown to translate into jobs, exports and economic growth, and taking a cross-government approach.
  • Creating critical mass in areas of strength, rather than spreading funding too thinly across too many areas, to ensure the UK remains at the forefront of innovation, attracting the brightest minds and remaining an attractive place to invest.

MPs discussed a range of issues in today’s debate; including how to encourage the UK’s world-class science base to continue to go from strength to strength, the need for an effective STEM ecosystem and balancing funding. There was a general agreement that the UK should invest more in science and R&D to match the higher levels spent by competitor countries including France, Germany and the USA.

The Aerospace Technology Institute (ATI) is an example of how long-term funding for R&D, particularly in aerospace, helps ensure the UK remains of the most attractive locations for investment. The 2015 Spending Review made a 10 year commitment to the ATI, with funding matched by industry, which will result in £3.9bn of aerospace R&D investment between 2013 and 2026 and give industry confidence to continue investing in the stimulation of breakthrough technologies that will ensure the UK remains a world leader in innovation.