Chancellor to announce £500m budget boost for robotics and electric vehicles
The Chancellor, Philip Hammond, will announce additional funding for science and technology in Wednesday’s budget
Electric car - Image credit: Press Association
Philip Hammond will announce a £500m boost for science and research in this week’s budget.
On Wednesday the Chancellor will outline a series of initiatives supported by a £23bn fund for infrastructure and innovation.
The proposals include an extra £90m for 1,000 doctorates, mostly in science, technology, engineering and mathematics (STEM) subjects.
There will also be £200m for researchers in disciplines aligned with the goals of the UK Government’s industrial strategy.
Another £270m will be announced for a challenge to businesses and universities to develop robots and AI to deal with the most hostile environments on and off the earth, such as in nuclear energy, deep mines and space.
Other areas of innovation to be promoted include improved batteries for electric vehicles and quicker manufacturing of medicines.
The money will come from the National Productivity Investment Fund, which was unveiled in the Chancellor’s autumn statement last year.
The budget will also see the Hammond unveil the UK Government’s 5G broadband strategy, as well as plans to accelerate the rollout of faster broadband across the UK.
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