Ambitious plans to boost the UK’s economic ambition to invest
2.4% of GDP by 2024 in innovative research and development,
creating jobs, growth and opportunity in every part of the
country, have been unveiled.
The new package of measures to support the delivery of the
modern Industrial
Strategy includes:
- £79 million to build a new ‘supercomputer’ in Edinburgh for
complex calculations for research and industry projects across
the UK
- £45 million to support genetic research in Cambridge for
complex health conditions
- commitment to fusion research at the Joint European Torus
(JET) megaproject in Culham to progress nuclear technology
- a call for
evidence on supporting small businesses to reduce
their energy bills
- a commitment that new-build homes will feature more
sustainable and efficient ways of heating, alongside other energy
saving measures.
- a new requirement for company Audit Committees to review
payment practices and report on them in their annual accounts.
- a call for
evidence on how to turn the UK into a global hub for
offshore oil and gas decommissioning
The government also announced that independent expert Professor
Arindrajit Dube would be appointed to undertake a review of the
impact of minimum wages internationally. The government will also
be engaging with stakeholders through a roundtable in conjunction
with the Low Pay Commission as part of the commitment to end low
pay in the UK.
