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BIS increases annual investment in science and technology 02.05.14

£5.8 billion to be allocated across 2015/16, an increase over recent years

The Department for Business, Innovation and Skills announced today the allocation of £5.8 billion in science and research funding for the year 2015/16. Advice was sought from a number of national bodies including the Royal Academy of Engineering, the Council for Science and Technology and the Confederation for British Industry, as well as the government’s Chief Scientific Advisors Committee.

The report’s introduction emphasises that “the UK’s strong research base is vital in pushing back the frontiers of human knowledge, supporting the wealth and welfare of the nation, tackling current and future challenges and contributing to the cultural richness of the UK.”

Of the total funding, nearly half will be distributed across the Research Councils (with the EPSRC and the MRC due to receive £793.5m and £580.3m respectively), with the rest going to HEFCE, the UK Space Agency and National Academies, and £101.1m for other programmes.

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