Investment in science vital for the future, says Brown

The UK must continue to invest in research to secure its economic future, Prime Minister Gordon Brown said today.

"If we don't prepare for the long term we will miss out on opportunities," he stressed.

The Government was "determined to continue to invest in science", despite the uncertain economic climate, Mr Brown said at the launch of the Government's first Annual Innovation Report.

The project, led by Minister for Science and Innovation Lord Drayson, aims to monitor the UK's global position in science, industry and research.

It will also take stock each year of efforts by Government departments and public bodies to encourage and invest in innovation.

The report was the first of its kind published by any government worldwide, Lord Drayson said.

Mr Brown told the breakfast meeting of industry CEOs, including former science and industry minister Lord Sainsbury, it was important that UK businesses now sorted out "the new global markets we will have to target in the future".

As Asian countries "move from being producers to consumers, that is going to depend on our ability to innovate and develop the goods and services that people are going to want around the world", he said.

Lord Drayson then led the private part of the meeting presenting his report and explaining its findings.