Submission to the Government's Balance of Competences review - EU Budget

17 January 2014

EU funding streams are key to the continued growth of research excellence in the UK, to innovation and to the creation of economic value. They are an irreplaceable source of funding for UK universities and for research-intensive universities in particular. The EU provides a unique and highly competitive platform for international collaboration.

Overall, investment in EU funding streams for research and development generates an excellent return for the UK economy, but it must be seen as a complement to and not a substitute for the UK’s own investment.

In order to get added-value from EU spending the budget should focus on areas which boost growth and jobs in the long- as well as the short-term; research and innovation funding is crucial for this.

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