University research funding increases by more than £7bn
Research funding for universities has increased by £7bn in the last two decades, according to data released by the National Audit Office.
Between 1995 and 2011, research funding rose from just under £20bn to more than £27bn.
Data also shows that UK higher education institutions have increased their funding of research by 86 per cent, or £3.3bn, in real terms since 1995.
However, UK’s HE institutions’ funding lags behind comparable international competitors who are funding more research at a quicker rate. The report suggests these institutions are devoting more funding in an attempt to combat the global downturn by investing in further education.
Higher education institutions contribute 27 per cent of the total R&D in the country.
The government has also progressively reduced the amount it spends on undertaking R&D itself, instead increasing the funding it gives to UK businesses. Between 1995 and 2011, governmental funding of R&D towards public research institutions (research bodies associated with the government) fell by 19 per cent, while government funding of UK business increased by 19 per cent.
In 2011 UK businesses spent £284 million towards R&D in HE institutions.
Research and Development (R&D) is historically the most cited metric of innovation in an economy. A recent review commissioned by the Business, Innovation, and Skills department indicated the rate of return for R&D investment as between 20 and 50 per cent.
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Immigrants make UK racist, says Ukip councillor Trevor Shonk
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
- 1 The political parties aren't all the same – which means 2015 will be a 'big-choice' election
- 2 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
£20000 - £24000 per annum + training: Ashdown Group: Graduate IT Support Helpd...
£19000 - £21000 per annum: Recruitment Genius: Audit Graduate Opportunities ar...
£18 - 24k (DOE): Guru Careers: A Graduate Marketing Analyst / Online Marketing...
£20000 - £30000 per annum + OTE £50k: SThree: SThree are a global FTSE 250 bus...