Science, engineering and innovation were targeted in the Government’s budget last week with announcements of more funding for education and an expansion of R&D support.
An extra £18m has been earmarked to support teaching in school science. The money is intended to increase the number of science teachers, and the number of young people taking physics, chemistry and maths A-levels and those getting top grades in science GCSEs.
There will also be funding for after-school science clubs and free education up to A-level standard for those up to the age of 25.
“With China and India turning out not just four million graduates a year to Britain’s 400,000, but also more computer scientists, more engineers, and more technicians, we can no longer afford to write off the talent or waste the potential of any young person,” said Chancellor Gordon Brown.
The focus on the need for a skilled workforce in the future was welcomed by industry experts.
“It is essential that the current wealth of world class technology and engineering teams the UK currently has is replenished through following generations,” said Charles Irving, managing partner at Pond Venture Partners. “This can only happen through putting more resources into science education.”
“We have to raise the status of a career in science or engineering from an early age to ensure the future of the UK technology industry and initiatives such as this will help to maintain the level of engineering skills the UK has,” added Sham Ahmed, managing director, The MathWorks.
R&D tax credits were extended to allow companies with up to 500 employees to benefit. The previous limit was 250 employees.
“This is excellent news and will be of particular interest to companies in that band that are loss making as they do not currently enjoy any short term benefit from the relief,” said David Cobb, head of R&D tax services at Deloitte.