Commenting on today’s announcement that science will see an increased budget by 2015/16, Chris Stirling, global head of life sciences at KPMG, comments:
“Life sciences companies in countries such as the US and China have traditionally had much greater public financial resources available to them compared to their UK counterparts. The commitment shown by the Chancellor to increase the funds available to science over the course of this Parliament is something that should be welcomed. It is particularly encouraging that science research has avoided the cuts aimed at other spend areas.
“His confidence in the sector must, however, be repaid. There are signs that returns on R&D investment are beginning to improve. Yet the industry must continue to strive for more innovative approaches out of UK-led programmes, or risk showing that his faith has been misplaced.”
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