The chancellor Philip Hammond has announced the allocation of £200 million to research in Cambridge, Edinburgh and Oxfordshire, ahead of his spring statement later this week.
In a press release circulated on 10 March, the Treasury said that the money, which is not new and comes from existing departmental funding and the National Productivity Investment Fund, would fund research on laser technology, supercomputers and genetics.
Scheduled for 13 March, the spring statement is one of two annual fiscal events in the UK and is an opportunity for the chancellor to respond to economic forecasts. On this occasion, it is set to take place one day after a second crunch vote on the prime minister’s Brexit deal.
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