The Russell Group has published its manifesto setting out its vision for a bright future powered by research, innovation, and future skills development.
The Russell Group, which includes the University of Manchester and which is chaired by Newcastle University Vice-Chancellor Professor Chris Day, has urged the next UK Government to commit to world-leading R&D investment to harness the power of world-leading research-intensive universities and strengthen the UK’s economy and resilience.
Russell Group analysis shows that an additional £4 billion in public R&D funding per year by 2029/30 is needed to sustainably meet a commitment of at least 3% of GDP invested in R&D. A stretch target of 3.5% GDP investment in R&D by 2034 would bring the UK closer to competitors in the OECD.
The analysis forms part of the Russell Group’s manifesto ‘A Bright Future’ released today detailing some of the key areas where universities and the next Government can work together to support future research and development and skills and workforce training in the UK.
Professor Day, Vice-Chancellor and President of Newcastle University and Chair of the Russell Group, said: “Our universities, the research we do and the students we educate, will be key to enabling a future Government to deliver a healthier, more sustainable, and more resilient United Kingdom, underpinned by a thriving innovation-driven economy.
“This manifesto clearly demonstrates the potential that exists in universities to deliver for the UK, from providing a pipeline of skilled healthcare workers for the NHS to accelerating progress towards Net Zero.
“Previous governments have recognised the value of UK R&D and the need to invest in research excellence, and we have seen at first hand the benefits of this investment, not least during the pandemic, when university research was not only at the heart of the development of the Covid vaccine, saving many thousands of lives, but also played a critical part in supporting the nation’s economic recovery post-pandemic.
“We look forward to working closely with the next Government and utilising our strength in R&D to provide the solutions that will build a bright and prosperous future for the UK.”
A Bright Future outlines how research-intensive universities, such as Newcastle University, already add significant value to the UK as a whole, but are keen to do even more to drive sustainable economic growth, create new jobs and boost public services.
Dr Tim Bradshaw, Chief Executive of the Russell Group, said: “Research being carried out at Russell Group universities is delivering breakthroughs that are creating skilled jobs, giving the UK a competitive advantage in new fields like AI and giving the NHS new treatments and technologies to help keep us healthy.
“Supporting quality R&D and innovation and being ambitious for our research sector will be crucial to building a bright future for the UK. Get this right, and the next Government would be taking a huge step towards tackling problems like growing NHS waiting lists.
“A long-term commitment to be a global leader in R&D investment would harness the potential of our world-leading research-intensive universities and maximise the positive impact they have in every corner of the UK. To make this a reality we need sustained public funding that will leverage significant wider private investment, to take us to 3% of GDP and beyond.”
