Briefing on the European Fund for Strategic Investments

17 February 2015

The Russell Group is concerned that EU funding originally designated for excellent science and research will be diverted to other EU areas through the European Fund for Strategic Investments.

The European Commission is proposing to create a European Fund for Strategic Investments (EFSI) as part of its Investment Plan for Europe. The EFSI will be backed up by a guarantee from existing EU funds, including €2.7 billion from Horizon 2020.

This strategy fails to recognise the substantial economic and social benefits of making sustained investments in basic research and funding could instead be focused on projects perceived to be ‘quick wins’.

The UK has out-performed many of its international rivals in winning EU research funds and the Russell Group has been central to that success. The UK would therefore lose out disproportionately if Horizon 2020 funds are not allocated on the basis of excellence. We hope that protections for Horizon 2020 funding are put in place in the upcoming negotiations to establish the EFSI.

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