Welcoming Lord Sainsbury’s review of science and innovation today, John Cridland, CBI's Deputy Director-General said:
"Lord Sainsbury has rightly focused on the whole of the ‘innovation ecosystem’, rather than simply R&D, in a review that contains many good ideas.
"We are particularly pleased to see the enhanced role the CBI proposed for the new Technology Strategy Board adopted. The TSB could be a real catalyst for the development of new technology in the UK, drawing together business, government, universities and research bodies.
"The increase to £1 billion funding over three years is a start, but only half of what we believe is needed to make a really radical difference. This makes it even more important that this direct funding is bolstered by all government departments using purchasing power to support innovative new technologies.
"Tackling the decline in the number of young people studying science, technology, engineering and maths (STEM) subjects must be at the top of the government’s agenda, at a time when business demand for these skills is growing fast.
"We urgently need more specialist science teachers, better careers advice and more young people studying three separate sciences at GCSE. The CBI is also calling for a £1000 annual bursary for STEM undergraduates to reflect the importance of these skills to the UK economy.
"The review proposes sensible actions to improve our science skills base – the challenge is now to deliver them."