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London mayor vows to use regional funds for R&D

Image: US Department of State, via Flickr

Sector welcomes announcement to “put universities and research institutes at heart of drive for growth”

The mayor of London has pledged to use the city’s allocation of the UK Shared Prosperity Fund to invest in innovation and R&D.

Sadiq Khan (pictured) was replying on 21 November to a question at the London Assembly, saying that evidence produced for the London Industrial Strategy found that “investments in innovation and research and development might be a more effective strategy to increase living standards, rather than focusing on productivity alone; as innovative firms pay comparatively higher wages, including in mid-skilled roles”.

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