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Image: UK in Italy [CC BY 2.0], via Flickr
The UK needs nimbler ways to approve public investment in R&D, says David Willetts
As someone whose first government job was in the Treasury, I understand its preoccupation with the proper management of public money.
One way it tries to do this is by requiring a business case for each project, setting out its rationale and predicted impact in economic, financial, commercial, management and strategic terms.