Research Councils: Finance

Business, Innovation and Skills written question – answered on 30th March 2010.

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Photo of Adam Afriyie Adam Afriyie Shadow Minister (Science and Innovation)

To ask the Minister of State, Department for Business, Innovation and Skills what estimate he has made of the cost to each research council of fluctuations in the sterling exchange rate in the financial year 2009-10; and how much his Department has allocated to compensate research councils for such fluctuations.

Photo of David Lammy David Lammy Minister of State (Department for Business, Innovation and Skills) (Higher Education and Intellectual Property)

holding answer 25 March 2010

For financial year 2009-10 the movements in the sterling exchange rate have given rise to increases in international subscriptions costs of £13.45 million at NERC and £31.63 million at STFC.

The Department has provided additional allocations of £12.45 million to NERC and £28.63 million to STFC to compensate them for these extra costs.

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