All the UK’s research councils will see their budgets rise over the next three years as part of a £1.1 billion uplift in core research spending by 2024-25, the UK government has said.
Setting out details of a multi-year settlement for UK Research and Innovation (UKRI), business secretary Kwasi Kwarteng confirmed that the budget of the country’s main research funder will rise from £7.785 billion in 2021-22 to £8.874 billion in 2024-25.
The record settlement, worth just over £25 billion over three years, was hailed as an important moment for British research by science minister George Freeman.
“As we look back at the last two years, it is hard to imagine a time when we have owed more to scientists, researchers and innovators,” said Mr Freeman. “I have never been prouder of the UK’s world-leading research base, which is why I am so pleased to have awarded £25.1 billion, the highest level of funding to date, to our national science and research agency, UKRI.”
