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Technology Strategy Board: Finance

Business, Innovation and Skills written question – answered on 12th May 2011.

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Photo of Gareth Thomas Gareth Thomas Shadow Minister (Business, Innovation and Skills), Party Chair, Co-operative Party

To ask the Secretary of State for Business, Innovation and Skills what the core budget for the Technology Strategy Board was for each of the last three years; what that budget will be for each of the next three years; and if he will make a statement.

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

holding answer 10 May 2011

The Technology Strategy Board's core budget was £193 million in 2008/09, £253 million in 2009/10, and £263 million in 2010/11, as announced in the 2007 spending review.

The Technology Strategy Board's core budget for 2011/12 is £317 million, which includes funding for Technology and Innovation Centres and to deliver a national Grant for Research and Development (R&D) scheme. I cannot be specific on future year allocations, but it will be of the order £300 million per annum resulting in support worth over £1 billion in business led R&D over the spending review period.

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