Good news for the UK. The Government has announced £100 million fund to attract foreign researchers in the wake of the vote to leave the European Union.
In what has been called the first major reform of R&D funding since 1965, the fund aims to make the UK the “go-to place” for science.
Jo Johnson, Minister of State for Universities and Sciences, outlined the UK ambition to be ‘go-to country’ for innovation and discovery, even after Brexit.
Mr Johnson said that the new fund was designed to help the UK to attract “the brightest and best minds” and to maintain its position “as a world leader in science and research”, as the country prepares for Brexit.
In addition, the government has a target of increasing R&D spending to 2.4 per cent of GDP in the next ten years.
This is certainly good for business. The commitment to additional funding in R&D shows the governments intentions to uphold minaifesto commitments in this sector. Hopefully we'll see similar moves with the tax regime.