New report on the public investment in science
- 30 April 2014
The Campaign for Science and Engineering CaSE), with support from the Society of Biology and other organisations, has commissioned an investigation into the economic significance of public investment in science.
The results of the independent study are published today and add valuable detail to the picture of current UK science, illustrating the relationship between public investment and economic returns. The full report is available to download along with a briefing note outlining the key findings.
Dr Mark Downs, chief executive of the Society of Biology, said: "Ensuring that public money is well invested is a priority for Government. We believe that this new evidence strongly supports our argument that increased investment in science now will deliver long-term economic benefits. Publicly-financed science can deliver societal as well as economic benefits, giving even better value, and publicly financed scientists are outward-looking and active in securing those benefits."
The full report, entitled The Economic Significance of the UK Science Base, was written by Professor Jonathan Haskel (Imperial College Business School), Professor Alan Hughes and Dr Elif Bascavusoglu-Moreau (both at University of Cambridge).
CaSE, in conjunction with the funders, wrote a two page briefing note that accompanies the report.
Funding for the project was provided by a consortium of six CaSE members: the British Pharmacological Society, The Geological Society, The Institution of Engineering and Technology, the Institute of Physics, the Royal Society of Chemistry, and the Society of Biology.