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A year ago, the Russell Group wrote to the Chancellor urging him to use the 2021 Spending Review to put research and innovation at the heart of the Government’s plan for growth by setting out a long term, strategic plan to increase investment in R&D.

Thankfully, the Government listened and committed to invest £20bn a year by 2024/25, but fast forward 12 months, current economic turbulence means uncertainty over whether it can be maintained.

Research has delivered countless innovations that have improved our lives and the economy, though they are too often taken for granted. The Oxford AstraZeneca vaccine proved just how necessary it is to invest in research for the future. It saved lives, unlocked our communities and helped the Chancellor save billions of pounds by enabling him to draw a close to the furlough scheme and other Covid mitigations.

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