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<p>The Government is committed to ensuring the UK remains a world leader in international
research and innovation. As my Rt Hon Friend the Prime Minister has said, we would
welcome an agreement to continue to collaborate with our European partners on major
science, research, and technology initiatives. The Chancellor announced in August
that the Treasury will guarantee all successful competitively-bid-for EU research
funding applied for before the UK leaves the EU, so that UK participants, and their
international partners, can be confident that they will have the funding necessary
throughout the life of their Horizon 2020 funded project.</p><p> </p><p>At the Autumn
Statement 2016, the Government committed an extra £2 billion per year to research
and development funding by 2020- 21, including for the Industrial Strategy Challenge
Fund. This funding is additional to the protection of science resource funding that
was announced at the spending review in autumn 2015, where science resource funding
was protected in real terms, at £4.7 billion per year, for the rest of the Parliament.
In the current financial year, total research and innovation funding is over £6bn.</p><p>
</p><p>My Rt Hon Friend the Chancellor of the Exchequer has also confirmed a further
£100m support for collaboration between universities across the range of knowledge
exchange activity, and a further £100m for Innovate UK for the Biomedical Catalyst,
from 2017/18 to 2020/21. The devolved administrations, including Scotland, will receive
funding through the Barnett formula in the usual way in respect of any funding announced
for England.</p><p> </p><p>This Government wants the UK to be the go-to place for
innovators and investors across the world, and we intend to secure the right outcome
for the UK research base as we exit the European Union.</p>
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