The UK Government recently restated its commitment to significantly boost public research and development (R&D) funding. But while the news of extra funding is welcome, we need to see this paired with a bold and ambitious rebalancing of public spending that will promote prosperity for the long term, make the UK a global innovation leader, and bring about real improvements to people’s lives.
Current spending priorities and policies aren’t working for the economy or society:
Nesta is calling for the government to devolve R&D funding to local areas, promote mission-based approaches and expand innovation support, to address imbalances across the system.
By protecting international collaboration and immigration, prioritising the safe adoption of emerging technology and encouraging business innovation across the economy, it can create an environment where ideas can come to life and benefit everyone.
Find out more about our recommendations on how to rebalance public innovation spending by exploring the blogs below.