New drug treatments, more sustainable batteries and the development of artificial intelligence are part of research projects that will receive funding as part of a government investment of 86 billion sterling books in science and technology.
Ministers announced a commitment of 22.5 billion pounds sterling per year Research and development (R&D) Over the next four years, including up to 500 million pounds sterling for regional authorities to target investment locally.
The announcement comes before the expenditure exams on Wednesday where Rachel ReevesThe Chancellor will offer daily expenses for three years and investment spending for four years.
Reeves said: “Great Britain is the home of science and technology. Thanks to the change plan”, we invest in the renewal of Great Britain to create jobs, protect our security against foreign threats and make workers’ families better. “”
Peter Kyle, the Secretary of Sciences and Technology, said: “R&D is the very foundation of breakthroughs that make our lives easier and better healthy – new drugs allowing us to live longer, more fulfilled to developing in AI, giving us time, the relaxation of our train trips to the creation of the technology we need to protect our planet.”
The ministers said that the investment would stimulate the life science industry in Liverpool, the defense sector in Northern Ireland and semiconductors in the south of Wales. It corresponds to a commitment made by the previous conservative government to spend 22 billion pounds sterling per year in R&D.
The seven strategic mayors in England – Greater Manchester, West Midlands, South Yorkshire, West Yorkshire, Liverpool region, North East and Greater London – will each receive prices of at least 30 million pounds Sterling each. The fund will also include a competition open to all other parts of the United Kingdom.
The announcement was greeted by Richard Parker, the mayor of the West Midlands, and Kim McGuinness, the mayor of the Northeast. McGuinness said that funds would support the car and green energy industries in its region.
The package also includes 4.8 million pounds sterling for a partnership between Manchester and Cambridge to attract commercial investments.
In addition to the expenses examination on Wednesday, Reeves plans to announce A redesign of the “green pound” of the treasure – Rules that govern the way in which public investment plans are judged. Critics say that existing rules are biased in favor of London and Southeast.
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The modification of the rules will allow ministers to divert more money to northern areas and midlands, including the so-called red wall where labor deputies are faced with an electoral challenge by Reform UK.
The chancellor will put 113 billion pounds sterling of new capital investments In houses, transport and energy at the forefront of the expenditure examination, the money unlocked by the modifications it made to the rules of government debt in October.
The ministers hope that billions of capital investments and an increase in financing for the NHS will avoid concern for severe reductions in daily expenses expected in many departments.