Read the press release from the IUSS Committee here.

Peter Cotgreave, Director of Public Affairs at the Royal Society, said:

"Funding for science has been good over the past ten years but, as the select committee report has identified, recent increases are being eaten up by rising costs and changing accounting practices rather than increasing the amount of research being carried out. The UK is a world leader in science and if we are to stay there and reap the benefits then we cannot afford a lack of real investment.

"Mistakes have clearly been made over the past year in terms of funding decisions and how they are communicated. These have and will continue to hurt science in the UK. The Royal Society remains convinced that an independent group should be established to advise ministers and civil servants on the science budget, so that they are fully aware of the impact of funding decisions."

Nick Dusic, Director of the Campaign for Science and Engineering, said:

"The Government needs to respect the Haldane Principle and stop interfering with how Research Councils allocate their funding. The Science Budget Allocations targeted funding at various government priorities leaving most Research Councils unable to maintain their investment in fundamental research. The STFC was the hardest hit by this and the Government must now find a solution to the funding crisis in physics and astronomy before the UK loses its scientific standing in these areas."