Russell Group warns against cuts to R&D budgets

UK could lose billions in private R&D if government rows back on pledges, universities warn

Billions of pounds of private investment in the UK could be lost if the chancellor announces cuts to existing R&D commitments, the Russell Group of research-intensive universities has said.

The comments come ahead of the government’s autumn statement on 17 July, where chancellor Jeremy Hunt is due to announce spending cuts worth around £35 billion to help plug the £55bn fiscal hole.