Response to the Chancellor’s Autumn Statement

29 November 2011

The Institute of Physics (IOP) has responded to the Chancellor’s 2011 Autumn Statement.

Response to the Chancellor’s Autumn Statement

Professor Sir Peter Knight, President of IOP, said, “Over the past year this Government has shielded the UK’s science base from the severest of potential austerity measures and shown that, when it can, it is choosing to invest in science, and rely on our world-renowned science base as a motor for economic growth.

“Investment to improve facilities shows a foresight that will deliver discoveries, both for blue skies and applied science, which can provide the genesis of growth for the successful businesses, and even entire industries, which will dominate our future economy.

“The Seed Enterprise Investment Scheme seeks to address issues further down the supply chain, helping high-tech entrepreneurs attract investment in the businesses that seek to exploit the market opportunities our world-leading science generates.

“However, we have previously asked that a strong, positive signal be sent to our young scientists and engineers so that they can be fully assured of bright future prospects here in the UK.

“A longer-term commitment to increase funding to at least pre-2010 levels will allow us to rebuild an economy less dependent on financial services; remain an international hub for world-leading research; and grow a generation of world class scientists.”