Institution news
Ahead of the Chancellor's Comprehensive Spending Review in November, the Institution has petitioned Sajid Javid MP, Secretary of State for Business, Innovation & Skills (BIS), to protect and invest in the nation's science and engineering future.
In July, the Chancellor, George Osborne MP, announced plans to reduce overall Whitehall spending by £20bn by the end of the 2019/2020 financial year. Government departments which did not have ring-fenced funding outlined in the 2015 Conservative election manifesto have been asked to develop two scenarios based on 25% and 40% departmental budget cuts.
Although the sale of land assets is expected to ease the overall impact, BIS, which provides the vast majority of science and engineering funding, is still expected to be one of the biggest losers of the Review, with many speculating that the further and higher education budgets will bear the brunt of cuts.
In a detailed submission to the Secretary of State, the Institution acknowledged that difficult and unpopular funding decisions would have to be made. However, budgets which support the advancement of science and engineering, especially in addressing the growing skills shortages, should be seen as an investment in the UK's future prosperity, and not as a cost or burden to the nation. Furthermore, the Government's investment in science and engineering research and innovation is a positive catalyst in providing market confidence to those sectors, which encourages additional private investment, and is a powerful driver for many companies to invest in people.
On future skills development, following the announcement by Prime Minister David Cameron that three million new apprenticeships will be created by 2020, the Institution highlighted the potential that the further education sector could offer in supporting and attaining this target. However, the provision of science and engineering facilities in both the further and higher education sectors were often greater than for other faculties, and BIS should ensure that future funding prioritises professions of critical importance to the UK’s future economic growth.
The results of the Comprehensive Spending Review will be published by the Chancellor on 25 November.