Government reveals “record £25.1 billion R&D budget settlement” for national funder
The government has published details of a “record £25.1 billion budget settlement” for national funder UK Research and Innovation for the coming years.
UKRI’s budget will increase from around £7.9 billion in 2022-23, to around £8.4bn in 2023-24 and then to £8.9bn in 2024-25, according to figures released by the business department on 30 May.
The funder’s head Ottoline Leyser said: “The importance of research and innovation to the future of the UK is reflected in UKRI’s increasing budget at a time of significant pressure on public finances.”
The government said UKRI’s budget would be at its highest ever level in 2024-25 and would include £16.8bn over three years, routed via its seven Research Councils, Research England and Innovate UK plus £2bn for “a new collective cross-council approach to talent initiatives” and £2.9bn for infrastructure.
Science minister George Freeman said: “As we look back at the last two years, it is hard to imagine a time when we have owed more to scientists, researchers and innovators.
“I have never been prouder of the UK’s world-leading research base, which is why I am so pleased to have awarded £25.1bn, the highest level of funding to date, to our national science and research agency, UKRI.”
Some UKRI councils will see significant increases in their core research and innovation budgets, according to the headline figures. For example, the Biotechnology and Biological Sciences Research Council core R&I figures for the three years in question increase from £300m in 2022-23 to £318m and then £326m.
Other budgets look flatter on the initial figures, with the Arts and Humanities Research Council core R&I figures starting at £71m in 2022-23, then falling to £65m and £70m respectively.
The business department has also said that the balance of dual support will be held at 64p.
See also: Concerns inflation could swallow up record UKRI budget—Sector welcomes “stability” of three-year settlement for national research funder but concerns over inflation rise