Read on Twitter
First up at the @PhysicsNews #IOPBusiness webinar this morning is @RichardALJones: the R&D roadmap should address the UK's longstanding economic problems - stagnant productivity growth, persistent regional imbalance - and need to move to net zero carbon emissions
@PhysicsNews #IOPBusiness @RichardALJones real wages have been stagnant since the 2008/09 financial crash; no real productivity growth since 1970s. UK is also an outlier across Europe in lower productivity, and lower living standards (apart from London and SE England).
#IOPBusiness @RichardALJones UK is a low R&D intensity economy; we're not doing enough innovation and historically haven't done so either. We're doing relatively well in university sector but far less in publicly run or funded labs or in business sector. @PhysicsNews @IOPBIG
@RichardALJones UK R&D spending incredibly concentrated in the Home Counties, East Anglia and London. Surprisingly, public investment is even more geographically concentrated than private spending. Not consistent (so far) with UK Govt's levelling up agenda #IOPBusiness @IOPBIG
@RichardALJones in Scotland, there is strong public sector investment but comparatively less private sector follow-on. In some areas like NE England/Humberside/N Ireland there is too little of either @IOPBIG #IOPBusiness @PhysicsNews
@RichardALJones need to devolve substantial R&D funding, new institutions in other parts of the UK, focusing on transformational change and driving forward our net zero ambitions @IOPBIG @PhysicsNews #IOPBusiness
Next, Alexandra Jones of @beisgovuk. Government announcement of £22bn and stated intention for UK to become a science superpower shows the importance they attach to this priority despite challenging environment - pandemic and fiscal constraints. @IOPBIG @PhysicsNews #IOPBusiness
AJ: Physics has made huge contributions to our economic strengths and technology developments on which we depend, especially now. Ambition is to make the UK system a supportive environment for the best science talent #IOPBusiness @IOPBIG @PhysicsNews
AJ: sustained new investment should help solve current problems and those of the future. Moon-shots are a key element; ambitious but achievable step-change goals to push boundaries and create new opportunities #IOPBusiness @IOPBIG @PhysicsNews
AJ: want a comprehensive strategy, supportive culture and practical steps to support best talent, to foment both private and public investment to achieve 2.4% of GDP target. @beisgovuk also want to continue the conversation with science community to achieve this #IOPBusiness
AJ: Levelling up agenda and global innovation, international collaboration and strategic partnerships are also key elements of making the R&D roadmap work. Also want to reduce bureaucratic hurdles and inspire culture change #IOPBusiness @IOPBIG @PhysicsNews
AJ: Funding matters of course but so does overall system and aspects like incentives. @tonyjmcbride1 now fielding many questions and comments from audience to @RichardALJones and @beisgovuk Alexandra Jones #IOPBusiness @IOPBIG @PhysicsNews
@RichardALJones: we are more of a science superpower already than an innovation superpower - the decision in 1970s not to have public investment at scale in applied research was an error and the effects are being seen today. #IOPBusiness @IOPBIG @PhysicsNews
How can R&D roadmap recognise R&D potential in economy, for example among SMEs? AJ: feedback on Challenge Fund is that matched funding requirement and access to finance can be harder for SMEs to meet - @beisgovuk considering this, roadmap isn't the final word #IOPBusiness @IOPBIG
@RichardALJones Duplication can be seen positively as diversity and fostering competition. Shouldn't be picking winners at outset because we won't know what innovation will work best: COVID-19 vaccines a good example. #IOPBusiness @IOPBIG @PhysicsNews
AJ: Ministers can set themes but don't pick preferred outcomes. "Haldane principle" established in legislation. But @RichardALJones notes this is over a century old, designed for WW1 world, economy and challenges. Perfectly legitimate to pick net zero as an ambition. #IOPBusiness
@RichardALJones: the "Golden Triangle" (Oxbridge and London) may spark much of the innovation we'll need and rely on, but not all, and further development can and should happen around the UK. Alexandra Jones of @beisgovuk agreed on importance of place #IOPBusiness @IOPBIG
@tonyjmcbride1 concludes by thanking speakers and participants, and highlighting more @PhysicsNews information, events to follow and "Giving Voice to Inclusion" survey, including a forthcoming IOP version of the roadmap #IOPBusiness @IOPBIG
