UK risks losing advantage

The report warns that the UK’s current advantage is in danger of being wiped out by the US, China, India, France and Germany, who have ramped up spending in science to boost their economies.

’As France announces a new €35bn investment in the knowledge economy, the UK cuts university budgets by £600m, with the threat of more to come. History shows us that new technologies drive economic development - look at the industrial and digital revolutions. The UK has been in the top two of the scientific premier league for the last 350 years. It would seem obvious that politicians would recognise the need to invest in this competitive advantage rather than cutting funds,’ said Sir Martin Taylor, chair of the report’s advisory group.

The report highlights last year’s announcement of a $21bn (£14bn) boost for science in the US and recent claims from American scientists that they will steal our finest minds if UK investment slips. The report also draws attention to a recent €35bn (£31.7bn) investment in the ’knowledge economy’ by France, a commitment from the German government to increase its federal budget for education and research by €12bn by 2013 and the year-on-year increase of 20 per cent in China’s science spending over the last decade.