University research gets £100m boost
My third budget story comes at things from a different angle. Rural England is seen by most people as being in the slow lane when it comes to research and development. I have been talking to food processing companies for most of this week and I have found in my home patch of Lincolnshire an amazing range of innovative activities linked to both Research but more significantly Development in terms of the evolution of their products. Rural research assets such as Harper Adams in Shropshire and the University of Lincoln food campus in Holbeach remind us that in many surprising places cutting edge private sector economic development is alive and kicking. This article explains how the budget may further support such facilities.
“A £100 million boost to university facilities announced in today’s Budget is expected to spur on new research and forge closer links between academia and industry.
The cash injection of “new” money was warmly welcomed by Professor Eric Thomas, president of Universities UK and vice-chancellor of the University of Bristol. He described the investment as “extremely good news for students, universities and business”.
Details of how the money will be allocated will be decided at a later date. The fund is designed to encourage universities to attract more collaboration and spending from private sector industries and research charities.”
Still further evidence of the attractiveness of rural England from an R&D point of view emerging from the budget, is the decision linked to more positive tax approaches for multi-national companies, of Glaxo Smith Kline to bring forward over £300 million of new investment creating jobs, amongst other places, at world class factories in County Durham and to build a completely new plant in Cumbria.