February 5, 2026

UKRI’s funding allocations 2026-30

UKRI is the UK’s largest investor of taxpayers’ money into research and innovation (R&I), with an annual budget of more than £8Bn, rising to around £10Bn by 2030 thanks to a record settlement from government in the last Spending Review.  

With its budget for 2026 confirmed UKRI has announced that it is changing how it invests, including to more closely align applied research with Industrial Strategy priorities. Details of those changes are emerging , including dividing its investments into three ‘buckets’ – curiosity driven research, applied research and supporting innovative companies.  

But not everyone is happy. Physicists are angry about the reduction of budgets for major UK physics programmes and other scientists have expressed alarm at the news that UKRI is putting  grant applications on hold while the changes bed in.

The start of this process has created some uncertainty and confusion within the research community, in part because UKRI claim it’s not straightforward to make the year-on-year comparisons of investment levels which many are asking for

The SMC is following these changes and invited UKRI to come into the SMC and do what they can to explain the changes and answer media questions about the vision for change.

Speakers included:

Professor Sir Ian Chapman, Chief Executive of UK Research & Innovation

Professor Michele Dougherty, STFC Executive Chair

Glenn Wells, MRC Deputy Executive Chair

Professor Charlotte Deane, EPSRC Executive Chair