The principal research funding route is through UK Research and Innovation, which in 2018 alone accounts for over £6 billion of investment in research and innovation. I am proud that the Conservative Government have overseen the largest increase in scientific research and development funding that we have ever seen in the UK. We are investing an additional £7 billion in R&D by 2022, as a first step in delivering our ambition of increasing the UK’s R&D spend to 2.4% of GDP.
As a former shadow Science Minister, I am very conscious of the increases in funding, particularly in cash terms, but I am also acutely conscious that it is not just cash but the availability of talent that matters when it comes to science, innovation and the industrial base. Given the recent concerns around Brexit and everything else, will the Minister reassure me that the availability of highly talented scientists will still be a priority for this Government?
The increase in funding is actually in real terms, but my hon. Friend is absolutely right: to succeed here, we have to be open to ideas and open to talent. He will have seen the recent relaxation in the tier 5 visa restrictions for scientists. We are also investing £900 million in UKRI’s flagship future leadership fellowships and a further £350 million for the national academies to expand their prestigious fellowships. When it comes to science, innovation and research, we are open for business.
I am sure that the Minister saw the recent report from the Office for Life Sciences, which showed that R&D investment in the pharmaceutical sector fell from £4.9 billion per annum in 2011 to £4.1 billion in 2016—a decline of £800 million per annum. To what does he attribute that, and given that life sciences are so important, what does he plan to do about it?
I am aware that everyone in the life sciences sector has welcomed the life sciences sector deal. As part of our work to reach 2.4% of our GDP being invested in scientific research by 2027, we will be working with the pharmaceutical industry along with other industries to increase their research investment in the UK.