Following the government's autumn statement delivered by the Chancellor of the Exchequer, Philip Greenish CBE, Chief Executive of the Royal Academy of Engineering, said:

“The Royal Academy of Engineering strongly welcomes the Chancellor’s commitment today to protect the UK science budget in real terms and drive forward Industrial Strategy with continued support for key sectors of the economy. The Chancellor knows that innovation, alongside research, is absolutely vital to social and economic growth: between 2000 and 2008, innovation accounted for half of the UK’s productivity growth. It is therefore also good news that innovation funding will be protected in cash terms and we look forward to further clarity and discussion about the new mechanisms being developed to support innovation to ensure that global companies continue to invest in UK R&D and manufacturing.

“The introduction of a new Global Challenges Research Fund represents an excellent opportunity to build on our world-leading science research. Enhanced spending on vital infrastructure projects is also important for regional development.”

Notes for editors

Royal Academy of Engineering. As the UK’s national academy for engineering, we bring together the most successful and talented engineers for a shared purpose: to advance and promote excellence in engineering. We provide analysis and policy support to promote the UK’s role as a great place to do business. We take a lead on engineering education and we invest in the UK’s world-class research base to underpin innovation. We work to improve public awareness and understanding of engineering. We are a national academy with a global outlook.

We have four strategic challenges:
- Make the UK the leading nation for engineering innovation
- Address the engineering skills crisis
- Position engineering at the heart of society
- Lead the profession

For more information please contact:

Aaron Boardley at the Royal Academy of Engineering
T: 020 7766 0655
E: Aaron Boardley