CBI Innovation and Digital Director Felicity Burch gives oral evidence to the science and technology select committee.
The Science and Technology Select Committee ensures that government decisions are based on expert advice and solid evidence.
The UK Government has committed to spending 2.4% of GDP on research and innovation by 2027.
In response to their inquiry on science, innovation and Brexit, the CBI expressed the view that the UK has many strengths – its Universities and its innovative businesses and proposes that the government:
- Increases it’s spend on innovation, thus encouraging private businesses to do likewise
- Offer incentives to encourage business to take-up innovation projects
- Transform its innovation policy, including the way it uses procurement, but not just the type of innovation, but also address the way it uses procurement – As well as thematic funds, offer bottom-up funds that allow businesses that have their own ideas to invest
- Clarify in advance, what areas it wants business to invest in
- Ensure the target is applied cross-government
- Relentlessly sell the UK as a place for inward investment in research and development
- Encourage wider business intake