Responding to the Chancellor’s statement in Parliament today (Wednesday 26 March), Dr Tim Bradshaw, Chief Executive of the Russell Group, said:

“Today’s statement, alongside the revised OBR forecasts, demonstrates the challenge government faces as it prepares for the Spending Review in June. Sticking to fiscal rules, finding savings across government departments, and navigating a volatile geopolitical climate must all be balanced against the need for targeted investment to achieve growth.

“With an even closer focus on maximising returns from every pound of investment, we continue to urge government to not only protect, but grow, R&D investment. This will help to maximise the impact of the UK’s world-leading researchers and universities, creating jobs, improving public services, leveraging private investment, and cementing the UK’s global reputation with trusted international partners.

“To help champion prosperity, the UK also needs to attract global talent with a stable, welcoming and affordable visa system for university students and staff. This should come alongside a long-term funding solution that protects the quality and sustainability of the sector”.

Read the Russell Group Spending Review submission in full.