Science: Finance

Business, Innovation and Skills written question – answered on 12th November 2010.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Business, Innovation and Skills)

To ask the Secretary of State for Business, Innovation and Skills if he will assess the effect on gross domestic product of a reduction of £1 billion in science funding from his Department in the comprehensive spending review period.

Photo of David Willetts David Willetts Minister of State (Universities and Science)

The comprehensive spending review 2010 (CSR 2010) maintains constant cash funding for science programmes through to 2014-15. While there is a significant literature base examining the link between Government science funding and its effect on GDP, it is extremely difficult to derive specific estimates of the income effects of particular changes in science funding. As with all savings being made in the BIS settlement, within the science budget, we are working closely with research councils and HEFCE to deliver savings as far as possible through a combination of reform and efficiencies, for example through the Wakeham proposals to incentivise efficiency in university research.

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