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IOP responds to Welsh Government’s draft budget 2023-24

16 December 2022

Government must increase funding for research, development and innovation.


Eluned Parrott, IOP Head of Wales, said: “Physics generates 10% of our GDP and jobs and adds £7bn to the Welsh economy, but the contribution is held back by Wales having the UK’s lowest level of research spend per head.

“Core research funding in Wales has not kept pace with inflation since 2008, and the current rate makes matters worse.

“The Welsh Government must increase the Higher Education Funding Council for Wales’s funding to allow for more R&D investment, and we want this corrected in the final budget.

“With the right action from the Welsh Government, physics’s substantial contribution to Wales can increase.”