Spending a relatively meagre 1.7% (May 2013) of GDP on science research places the UK as the second lowest investor into science in the G8. As this is the case how do we remain competitive? This was discussed at the CaSE debate a couple of weeks ago, along with justification that our spending is worthwhile.
An ideal figure of 3% is often thrown around when discussing GDP spend on science. UK science ministers at the event explained that the UK meeting this number is highly unlikely at current time. The key to making our 1.7% count, they explained, is to create incentives to keep large R&D companies interested in us and not just the emerging economies. This can be achieved by creating long term contracts with the companies which entices them with security that perhaps smaller economies cannot offer.
Another promising point is how the UK are spending broadly and with a fairly stable cash figure. This is allowing continual funding into many different aspects of science and technology. Compare this with Germany, who at first glance put a formidable percentage of GDP into science, but in actual fact are investing a massive chunk of this into energy. Their shift away from nuclear is draining their science budget, allowing other areas of research to perhaps slip through the net. If Aesop is to be believed, the UK with our slow and steady approach may be doing just fine.
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