Research and Development Private Investment 2024-01-10
2024-01-10
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The MP inquired about recent discussions on trends of private investment in R&D over the last year.
What recent discussions have taken place with Cabinet colleagues regarding trends in private investment for research and development during the past 12 months?
This Government have a fantastic track record of mobilising private investment in research and innovation, alongside delivering the largest ever public spending, which will reach £20 billion a year next financial year. In November, the global investment summit saw commitments to invest almost £30 billion in the UK.
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Assessment & feedback
Specific details about recent discussions with Cabinet colleagues are not provided
Fantastic Track Record
Response accuracy
Q2
Partial Answer
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Context
The MP inquired about the likely impact of Mansion House reforms on trends in private investment.
Does the Minister have an assessment of the likely impact of the Mansion House reforms on trends and track record of private investment, especially for Hertford and Stortford?
The Mansion House reforms will unlock an estimated £50 billion of investment to scale up high-growth companies across the UK. The Government also launched a £250 million initiative for long-term investment in tech and science, focusing on British pensioners investing in long-term growth opportunities.
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Assessment & feedback
The specific impact of Mansion House reforms is not assessed directly
Unlocking £50 Billion
£250 Million Initiative
Response accuracy
Q3
Partial Answer
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Context
The MP noted that despite allocating £3.4 million of the regional innovation fund to Wales, there is no evidence of it being spent for its intended purpose.
Disappointingly, there's no evidence of allocated funds from the regional innovation fund having been used in Wales as intended. What assistance can be provided to encourage investment in the Welsh economy?
Disappointing that Labour Government in Wales hasn't seen fit to spend these funds. Ultimately, it's a decision for them and voters will hold them accountable.
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Assessment & feedback
Did not provide any assistance or measures
Labour Government
Voters Holding Them Accountable
Response accuracy
Q4
Partial Answer
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Context
The MP noted a significant drop in international student applications and asked about offsetting the loss of research resources.
What are the Minister and his colleagues doing to mitigate the decline in research sector resources due to falling international student applications?
Shame that the hon. Member is so keen to talk down UK at every opportunity. This Government are mobilising more public funding for R&D than ever before and private investment on top, £2 for every £1 put in by government.
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Assessment & feedback
Did not provide specific actions being taken to offset resource loss
Talk Down The Uk
Shame
Response accuracy
Q5
Partial Answer
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Context
The MP expressed interest in understanding support provided to the Northern Ireland workforce for training and growth.
What is Northern Ireland getting to help its workforce grow, train its people, and integrate into the UK's R&D efforts?
Visited Northern Ireland aware of innovative and highly skilled workforce. As Minister for Science and Research, keen to ensure NI punches above its weight. Delighted to meet businesses, entrepreneurs, innovators there.
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Assessment & feedback
Did not provide specific initiatives or support measures
Punches Above Its Weight
Delighted To Visit
Response accuracy