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Experts comment on the Autumn Budget.
Sir John Lazar CBE FREng, President of the Royal Academy of Engineering, said:
“Making the UK the best place for business is a welcome ambition. Engineering entrepreneurs are the backbone of innovation and growth, driving productivity and creating high-value jobs.
“If we want to keep scaling companies in the UK, measures like listings relief send a clear signal that Britain is serious about supporting the next generation of world-leading engineering firms, but substantially more capital still needs to flow.
“Talent also matters, but the new surcharge on international student fees sends a negative signal about the importance of future innovators. Falling overseas enrolments threaten the sector’s stability and could worsen the UK’s chronic skills shortages—especially in STEM.”
Dr Alicia Greated, Executive Director, Campaign for Science and Engineering (CaSE), said:
“We are concerned about the international student levy confirmed today in the Budget. At a time when many universities, a crucial part of our research system, are already under financial pressure the impacts of this tax will be unpredictable and could be damaging. Reduced income for universities will mean less is available to invest in world-leading research teams, in high-cost research facilities, and in work to underpin local communities and economic growth – a Government priority restated by Liz Kendall only a few days ago.
“The Government often speaks of the value and importance of UK research and universities’ role in it, albeit not in the Chancellor’s speech today. It is hard to reconcile this positive rhetoric with the international student levy. I urge them to engage with the sector on the impact this measure will have on the research system.”
Tom Grinyer, Chief Executive, Institute of Physics (IOP), said:
“So it’s good to see the government delivering on its Spending Review commitment to protect R&D and we welcome recent announcements of funding in areas that drive growth and jobs, many of which will be physics-powered, like quantum, space, and the green economy. That includes discovery science, which will bring future breakthroughs, help solve our biggest societal challenges and set our economy up for long term success. The next step must be for the government to commit to a strategic, decade-long plan for the physical sciences to sit alongside the Industrial Strategy.
“The government must also take all possible steps to minimise the impact of the new overseas student levy on universities. Financial pressures already mean a quarter of UK physics departments are facing difficulties or even closure, and this could make a very difficult situation even more critical.
“While it is reassuring to hear this will be kept under review it is now essential the government engages with the higher education sector on its design and implementation and that there will also be a consultation on this measure.”
Dr Joe Marshall, Chief Executive of NCUB, said:
“Today’s Budget reinforces the UK’s commitment to growth. Protecting long-term investment and backing innovation sends an important message at a time when productivity forecasts have been revised down and the need for stronger growth is evident. The government has remained consistent, keeping capital investment at historically high levels and taking further action to remove barriers that slow progress.
“Universities and businesses recognise that the UK cannot depend on incremental change. They are central to generating the ideas, skills and technologies that will drive the next phase of economic renewal. Targeted support for entrepreneurship, investment in scaling companies, and reforms to the R&D system are welcome steps. The intention is clear: future investment will be more tightly aligned to national priorities and to building the leading companies of tomorrow, while sustaining the research excellence and collaboration that underpin long-term competitiveness.
“As the UK moves towards a more mission-driven and outcomes-focused approach, delivery will be decisive. Businesses consistently tell us that the UK often has the right ideas, but execution has not always kept pace. Success will rely on the whole ecosystem functioning effectively, not only policy reform but strong, innovative universities able to partner with business and drive skills, investment and regional growth. NCUB will continue to work with government, industry and the research community to ensure that reforms translate into real-world impact, turning world-leading research into innovation, and innovation into productivity and growth.”
Dame Chi Onwurah, Science, Innovation and Technology Committee Chair, said:
“Science and technology innovation has the potential to boost local economies and drive development across all regions of the UK. However, the committee has heard time and time again that innovative businesses face real barriers to scaling up – and, as highlighted in our ‘Innovation, Growth, and the Regions’ inquiry, this can hit even harder for those outside the Greater South East.
“With this in mind, I welcome the Chancellor’s support for start-ups and scale-ups, which will make it easier for them to expand and attract investment. However, it’s disappointing that there were no specific measures to address the regional disparities in productivity, R&D and venture capital investment that we’ve heard can really hinder the growth of science and tech businesses outside the so-called Golden Triangle.
“The accompanying OBR forecast also estimated that that the government’s digital ID scheme is forecast to cost £1.8 billion over the next three years. This comes only a week after the committee was told by the Minister for Digital Government that it wasn’t yet possible to assess the cost. Why have we been told two different things? At a time of tight public finances, the OBR has also called the scheme “unfunded.” Given how important the digital transformation of public services like digital ID are to the government’s agenda, its concerning there is a real lack of transparency and clarity over its costs and benefits.”
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