HELP FOR UNIVERSITIES AND RESEARCH!
The Westminster government is investing millions in universities and research, with a focus on AI, Holocaust education, and more. Chancellor, Jeremy Hunt, announced £7 million to combat antisemitism in schools and universities. The budget also includes £500 million to enhance access to computing, boosting AI research with a total planned investment of over £1.5 billion.
SMALL BUSINESSES GET EXTRA TAX RELIEF!
The existing Research and Development Expenditure and SME schemes will be merged to offer extra tax relief for small and medium-sized enterprises. Plus, Imperial College London and Imperial College Healthcare NHS Trust are receiving £5 million to fight antimicrobial resistance with the creation of a Fleming Centre.
ADVANCED MANUFACTURING INVESTMENTS!
The budget allots £4.5 billion for advanced manufacturing to support the automotive sector, the development of zero-emission vehicles and more. Also, the next investment zones will be focused on advanced manufacturing, advanced manufacturing and materials, and green industries and advanced manufacturing in the West Midlands, East Midlands, and Greater Manchester.
SPIN-OFFS GETTING BOOST!
The recommendations of a review of spin-outs led by University of Oxford vice-chancellor Irene Tracey and Andrew Williamson, a managing partner of the University of Cambridge’s in-house venture capital fund, have been accepted. This will see universities take a smaller stake in spin-offs to drive greater private investment, also supported by an additional £20 million.
A MIXED RECEPTION?
While there is overwhelming support for these measures, not everyone is thrilled. The National Union of Students (NUS) has criticized Mr. Hunt for “ignoring student poverty.” There’s been a call for a sharp increase in maintenance loans and a plan to reintroduce maintenance grants. We want to know what you think! Do you agree with the NUS? Comment below!
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