Ring-fencing the science budget is not enough to ensure the UK retains its world-leading position in the long term, cross-bench peer John Krebs has said in a letter to Chancellor George Osborne.
Writing as chairman of the House of Lords Science and Technology Committee, Krebs recommended the government publish a long-term investment framework for science, innovation and skills “covering (as a minimum) the next decade”.
In the letter dated 4 June, Krebs warned that the UK was in danger of losing out to other countries if it did not invest in R&D at the same pace, and that it would not be able to attract the most talented scientists from around the world. “A reduction in funding in real terms would result in damage to the UK’s science base far in excess of the immediate monetary value owing to impacts of reputational damage,” he said. Uncertainty over the future would also deter potential investors, he said, but a strong science base would stimulate innovation.