LONDON, ENGLAND – MARCH 15: UK Chancellor Jeremy Hunt leaves Downing Street with the despatch box to … [+]
As coalescences go, meetings between the world of classical music and the life sciences sector are relatively infrequent.
However, last month, the two combined to make the international news agenda – with a team of genomics researchers led by Cambridge University shedding new light on the factors contributing to Beethoven’s death. While for many there is limited benefit in knowing the genetic predispositions of composers living in the early 1800s, the research behind the discoveries is genuinely world-leading and a good point of reference for the current challenges and opportunities that our science and technology industries currently face.
Notably, the findings were published within a fortnight of both the UK Government’s new science and technology framework being announced and the Treasury’s annual Spring Statement. Both events put significant focus on the UK becoming a ‘science superpower’ by 2030 and are to be widely welcomed as businesses in both sectors look to commercialise R&D that will drive economic growth in the future.
However, as always, it’s important that we hold them up to scrutiny. In particular, the new framework – which the government hopes will act as a ‘strategic anchor’ for policy – will need to be backed by significant funding and the ability to partner with other international research leaders (as was the case with the Beethoven genomics project).
It’s concerning then that neither event made any clear reference to the £1.6bn of Horizon Europe funding that has been earmarked for a domestic alternative to the collaborative European research programme. More promisingly, Michele Donelan, the UK’s science and tech secretary, has since opened preliminary talks with Brussels regarding our future involvement in Horizon following progress on the politically sensitive Northern Ireland protocol. However, the question remains as to whether the funding has been identified as a means by which to support the government’s balancing of the books rather than a pot for targeted investment in growth.
On a more positive note, AI and quantum computing featured prominently in the government’s framework announcement, so the swift publication of a clear 10-year strategy announced as part of the Budget is a positive step forward. The strategy represents a £2.5bn investment, including the development of a UK-wide AI sandbox and annual prize funding, which has the potential to make the UK a world leader in this emerging technology. Importantly, it should provide a critical growth and levelling up opportunity for well-established centres of excellence in regional cities including Glasgow and Manchester.
Elsewhere in the Spring Statement, it was positive to see that widely criticised changes to the UK’s R&D tax credit scheme have been revised – although there remains the need for a system where all R&D-focused firms can benefit, and not just those at the highly intensive end of the industry.
Perhaps of greatest note though was the unveiling of new Investment Zones, which in my view have the potential to strengthen the UK’s knowledge economy and, in particular, the high-growth innovation clusters that are being strategically developed in key city regions.
Like the prioritisation of AI and quantum computing, the decision to focus on a smaller group of well-planned, locally-led clusters centred around universities or research institutions – including ones we partner with in Greater Manchester, Liverpool, the West Midlands and West Yorkshire – rather than a broader UK-wide scheme will create opportunities to level up the regions. Coupled with the further devolution of powers to local mayors, the creation of a low tax environment within these cities will only encourage investment and empower entrepreneurs working alongside or as part of academic research institutes.
These developments are all positive elements of a broader plan. Combined with the right funding and support for businesses, they have the potential to push the UK science and technology sectors forward. However, uncertainty remains around our relationship with our international peers. For the UK to succeed on its 2030 objectives, it’s important that we see a swift resolution on Horizon.
