Wellcome to ramp up spending, despite financial loss

Charitable health funder sees investments drop six per cent but vows to spend £16 billion

Wellcome has said it remains committed to spending £16 billion on science over the next decade, despite the value of its investments dropping six per cent between 2021 and 2022.

Julia Gillard, chair of the big-spending health research funder, said Wellcome would be willing to eat into its endowment to stick to its commitment to raise its levels of research funding.