Angel CoFund comments on the Chancellor’s Spring Statement
March 19, 2019
Tim Mills, Management Director of the Angel CoFund has made the following comments on the Chancellor’s Spring Statement and its focus on science and technology:
“This Statement obviously comes amid a great deal of uncertainty for the UK economy, and the country as a whole. While the nature of our future relationship with EU remains opaque for now, it is encouraging to see the Government place an emphasis on funding and supporting the science and technology communities. Regardless of what happens next in the Brexit process, innovation in science and technology has always been a fundamental pillar of the UK economy and is likely to be more important than ever before going forward.
“The funding for scientific research that the Treasury has promised as part of the Industrial Strategy will go towards state-of-the-art laser technology, supercomputers, medical breakthroughs and more. What is important to remember is that each of these is pushing a frontier that British businesses can then capitalise on the create new, cutting-edge products and technologies that will allow the UK to continue complete on the world stage.
“What’s also significant is that these funds are not just localised to London. In the absence of EU funding, it is more important than ever for investment to be evenly spread throughout the UK, to stimulate economic development throughout the country. Increased investment into R&D and measures like exempting PHD positions from visa caps will result in long-term returns for the UK, in terms of productivity, wages and jobs.”
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