Advanced Research Projects Agency: Finance

Treasury written question – answered on 14th January 2021.

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Photo of Grahame Morris Grahame Morris Labour, Easington

To ask the Chancellor of the Exchequer, with reference to the 2020 Spending Review and the £800 million allocated to the high-risk, high-reward programme, when the remaining £750 million will become available, and whether this will be in phases or in one instalment.

Photo of Grahame Morris Grahame Morris Labour, Easington

To ask the Chancellor of the Exchequer, with reference to the 2020 Spending Review and the £800 million allocated to the high-risk, high-reward programme, which body will be responsible for allocating those funds.

Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary

In the Spending Review the Government announced an annual profile for high-risk, high-reward research rounded to the nearest £0.1bn. This profile is £0.1bn in 2021-22, £0.3bn in 2022-23, £0.3bn in 2023-24 and £0.3bn in 2024-2025.

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