The Liberal Democrats have picked increased spending on innovation as one part of a five-point plan to ensure the UK's long-term sustainable economic growth.
In a pre-manifesto election announcement the party’s leader Nick Clegg has restated his party’s commitment to a ring fence for the £4.6 billion science budget—a pledge originally announced in August 2014. In a statement published on 9 March, the party adds: “Once the job of balancing the books is finished we will raise science spending in real terms.”
The party’s pre-election statement on the economy also promises to double innovation spending in real terms by 2020-21 from £454 million in 2014-15 to more than £1bn. “By doing so we can ensure that British companies are able to develop world beating technologies,” says the statement.
Alongside innovation, the party also says a plan for sustainable growth needs long-termism, finance, skills and openness. Its position on openness is focused around the UK’s membership of the single market in the EU and the free movement of people including students. “We do not believe overseas students are or should be seen as long-term migrants as without a further visa, students must return home at the end of their studies. For this reason we will remove students from the immigration calculations.”
The party’s spring conference will be held in Liverpool from 13 to 15 March.