Chancellor of the Exchequer Philip Hammond has announced that £300 million will be invested in supporting research into the key STEM topics - science, technology, engineering and maths as part of today’s Budget Statement in the House of Commons.
The money will come from the £23 billion of additional infrastructure and innovation investment the Chancellor announced in the autumn statement. Philip Hammond said the funding would enhance the UK’s position as a world leader in science and innovation by supporting “the brightest and the best research talent.”
The funding includes support for 1,000 new PhD places and fellowships, focused on the STEM subjects.
The Chancellor has also allocated £270 million to keep the UK at the forefront of disruptive technologies such as biotech, robotic systems and driverless vehicles. £16 million will also be made available for a new 5G mobile technology hub, and £200 million for local projects to leverage private sector investment in full-fibre broadband networks.
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