Russell Group submission to the Spring Budget 2023

26 January 2023

Ahead of the Spring Budget the Russell Group has written to the Chancellor of the Exchequer setting out proposals to help drive the innovation needed to grow the economy, create jobs and solve major challenges such as energy security, inequalities and net zero.

The Russell Group has welcomed the Government’s ongoing commitment to boosting public R&D spending to £20 billion a year by 2024/25 in the Autumn Statement. To maximise the opportunities of this funding and to realise our shared ambition for world-class education in the UK we have made three key proposals:

• Supporting the development of clusters built on the success and talent of research-intensive universities and their world-class research
• Enhancing the cost-of-living support for students by changing the maintenance loan system so it better reflects current economic challenges, and
• Making effective use of the funding set aside for the UK’s association to Horizon Europe or alternative schemes, which may include further extensions to the guarantee if necessary.

You can read the letter to the Chancellor of the Exchequer in full below.