Policy and funding
IOP hosts science and technology investment roundtable
27 June 2019
The Institute of Physics and Industry Forum co-hosted a roundtable with Shadow Chief Secretary to the Treasury, Peter Dowd MP, to discuss Labour’s plans for investment in science and technology.
Attendees included leading business people and IOP Fellows from the finance, photonics, food manufacturing and industrial sectors.
Top: (L-R) Rod Dowler, Chairman of the Industry Forum; Peter Dowd MP, Shadow Chief Secretary to the Treasury; James McKenzie, IOP Vice-President for Business. Bottom: (L-R) James McKenzie, IOP Vice-President for Business; Rod Dowler, Chairman of the Industry Forum; Peter Dowd MP, Shadow Chief Secretary to the Treasury; Anne Crean, IOP Head of Science and Innovation.
A longer-term approach to assessing the value of investments - reflecting the often lengthy timeline from inception to impact in scientific discovery and innovation - could help enable ambitious R&D targets to be met, and discussion centred on how a Labour government might embrace this idea.
Participants also explored the role of the Treasury in facilitating investment and ensuring UK-wide benefit, means of encouraging investment from the private sector, bold approaches to climate change, and the need to encourage and retain overseas students and professionals to secure the future success of the UK's science and technology base.
Anne Crean, Head of Sciences and Innovation at the Institute of Physics, said: "One of the key roles of the IOP is to ensure that the voice of the physics community is heard by decision makers. This event enabled us to highlight the hugely important role that science and technology play in our economy, and explain the ways in which we can further unlock their potential.
"The IOP will continue to work with politicians, civil servants, industry and the wider policy community to advocate for the policies that can help transform science and technology in the UK."