The National Centre for Universities and Business (NCUB) – an independent and not-for-profit membership organisation that promotes, develops and supports both academia and UK businesses – has thrown its weight behind the Autumn Budget, backing the continued focus on long-term investment, and its measures to unlock innovation and drive business growth.
This year’s Budget maintains elevated capital spending throughout Parliament and outlines reforms intended to stimulate entrepreneurship, attract investment and strengthen the UK’s research and innovation landscape.
It also confirms further changes to the R&D system and continued progress on the government’s Modern Industrial Strategy, alongside steps to streamline regulation and bolster skills and business investment.
NCUB chief executive Dr Joe Marshall said: “Today’s Budget reinforces the UK’s commitment to growth. Protecting long-term investment and backing innovation sends an important message at a time when productivity forecasts have been revised down and the need for stronger growth is evident.
“The Government has remained consistent, keeping capital investment at historically high levels and taking further action to remove barriers that slow progress.
“Universities and businesses recognise that the UK cannot depend on incremental change. They are central to generating the ideas, skills and technologies that will drive the next phase of economic renewal.
“Targeted support for entrepreneurship, investment in scaling companies, and reforms to the R&D system are welcome steps. The intention is clear: future investment will be more tightly aligned to national priorities and to building the leading companies of tomorrow, while sustaining the research excellence and collaboration that underpin long-term competitiveness.”
Marshall added that as the UK moves towards a more mission-driven and outcomes-focused approach, delivery will be decisive.
He continued: “Businesses consistently tell us that the UK often has the right ideas, but execution has not always kept pace. Success will rely on the whole ecosystem functioning effectively, not only policy reform but strong, innovative universities able to partner with business and drive skills, investment and regional growth.
“NCUB will continue to work with government, industry and the research community to ensure that reforms translate into real-world impact, turning world-leading research into innovation, and innovation into productivity and growth.”
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