John Cridland, deputy director-general of the?CBI has welcomed the publication of Lord Sainsbury’s review of science and innovation and its acceptance by the Government.
The review looks at what more can be done to secure the UK's success in the face of the opportunities and challenges of globalisation.
The report pays tribute to the contribution of higher education in raising the nation's competitiveness and makes recommendations to enhance this role still further.
Cridland said: “Lord Sainsbury has rightly focused on the whole of the 'innovation ecosystem', rather than simply R&D, in a review that contains many good ideas. We are particularly pleased to see the enhanced role the CBI proposed for the new Technology Strategy Board adopted. The TSB could be a real catalyst for the development of new technology in the UK, drawing together business, government, universities and research bodies.
“The increase to £1bn funding over three years is a start, but only half of what we believe is needed to make a really radical difference. This makes it even more important that this direct funding is bolstered by all government departments using purchasing power to support innovative new technologies.
“Tackling the decline in the number of young people studying science, technology, engineering and maths (STEM) subjects must be at the top of the government's agenda, at a time when business demand for these skills is growing fast.
“We urgently need more specialist science teachers, better careers advice and more young people studying three separate sciences at GCSE. The CBI is also calling for a £1000 annual bursary for STEM undergraduates to reflect the importance of these skills to the UK economy.
