Commenting on the Chancellor's Autumn Statement, the President of the Royal Academy of Engineering, Sir Jim McDonald FREng FRSE, said:
“It was noticeable how many of the growth priorities announced by the Chancellor will rely on engineering skills and innovation, particularly regarding secure, clean and affordable energy, and new infrastructure. These will be crucial to reinvigorating economic prosperity in all regions of the country.
“More than eight million people work in the nation’s engineering economy and the profession is generating up to an estimated £645bn gross value added to the UK’s economy annually – equivalent to 32% of the country’s economic output.
“We must grow and nurture the right talent base and provide more people from all backgrounds with the right engineering and technical skills if the government’s stated ambitions are to be achieved.”
CEO of the Royal Academy of Engineering, Dr Hayaatun Sillem CBE, said:
“In the context of the tough decisions that were made today, protection of the entire research budget is a welcome outcome for UK R&D and innovation. Continued, and increasing, investment from government remains vital to economic growth across the UK.
“Strengthening innovation capacity across the entire country will ensure that the benefits from investment in research are shared more evenly across society. The emphasis of leveraging local research strengths through investment zones offers potential to do this.
“While the government continues working towards association to Horizon Europe, we need to continue to give confidence to researchers that the UK remains a great place for them to bring their talents and build their careers.”
