Reeves to hand £86bn to fund breakthrough science as other areas face cuts ...Middle East

Chancellor Rachel Reeves will announce a £86bn package for science and technology at the Spending Review on Wednesday.

The overall package, which will be announced on 11 June, is expected to be worth more than £22.5billion-a-year by the end of the decade – the NHS will also be handed a funding boost of £30bn.

While science and technology will receive further funding, the Chancellor has been warned over cuts to local council and policing. The Department for Work and Pensions has already made cuts up to £3.4bn in April.

Amid the tight budget for some departments, Reeves has warned “not everyone will get everything that they want”.

Follow The i Paper’s live blog for the latest updates.

R&D boost will allow ‘regions to lead the way’, mayors say as they welcome science and tech investment

Under minister’s plans to boost research and development, at least £30m will be invested in each of the seven mayoral authorities in England – Greater Manchester, West Midlands, South Yorkshire, West Yorkshire, Liverpool City Region, North East and Greater London.

The same amount will be invested in one equivalent region in each of Scotland, Wales and Northern Ireland, to be agreed with devolved governments.

A further £5m will be invested to launch a new partnership between “the high-growth regions of Manchester and Cambridge, strengthening the link between these hubs of innovation to attract more business investment”.

North East Mayor Kim McGuinness said: “Our region is already an advanced manufacturing powerhouse and this announcement boosts my mission to create new growth, new jobs and new opportunities in two exciting ways. 

“We will now be able to support more research and development projects in established sectors, like the car industry and green energy, which are cornerstones of the North East economy, and we can also invest in new technologies from kitchen table innovations to our fast-emerging trailblazers in the space industry and AI.”

Richard Parker, Mayor of the West Midlands, said: “This is exactly how we turn our potential into progress.

“This investment backs regions to lead the way in the industries that will define the future.

“From life sciences and advanced manufacturing to clean energy and AI, regions across the UK have the skills and the ideas – they just need the investment and the power to match.

“This will drive innovation that not only grows the economy but creates jobs, builds opportunity, improves health and changes lives.”

Ministers unveil £86bn investment for ‘breakthrough’ science and tech

Ministers have unveiled plans to invest £86bn in science and technology, including new drug treatments, defence technology and artificial intelligence.

A £22.5bn annual investment will be made into research and development (R&D) over the next four years, including £500m for regional authorities.

The plans have been announced ahead of the Spending Review on Wednesday, where Chancellor Rachel Reeves will set out day-to-day expenditure for three years and investment spending for four years.

Peter Kyle, the Science and Technology Secretary, said: “R&D is the very foundation of the breakthroughs that make our lives easier and healthier – from new medicines enabling us to live longer, more fulfilled lives to developments in AI giving us time back, from easing our train journeys through to creating the technology we need to protect our planet from climate change.”

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