EEF inquire into Enterprise Research Centre R&D grant report
April 27, 2019
Commenting around the Enterprise Research Centre set of the worthiness added performance from R&D grants published recently, Ms Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, said:
“As policy makers grapple with a bit of big questions about the way the UK develops capabilities in leading-edge technology and gets more ambitious about innovation that can support productivity growth, whilst remaining part of important research partnerships in Europe, this research provides several of the vital items of evidence puzzle on which works.
“The strong link between grant support to innovative companies and outcomes on sales, productivity and employment should guide how government thinks about dividing the pie for future support. Furthermore, the requirement to place some bets on emerging sectors ?should be a part of an ambitions future focussed industrial strategy, although we can not focus solely on pushing the frontiers of knowledge if you don’t take action that can help laggard firms catch up with those within the frontier.
“As such, government backed support to seal the space between those firms with the technology frontier and those further back in the back can pay decent growth dividends with the UK economy, with strong gains offered if manufacturers can be a priority target.
“Deliberations about the final model of industrial strategy as well as upcoming Budget will shape future support for innovation companies and sectors in england. These studies must provide a vital steer on obtaining right outcomes for long-term growth and price for funds to your taxpayer.”