Million Plus

Writing for NCUB, Professor Phoenix reflects on concerns raised and optimism shared by guests at the most recent London South Bank university's policy breakfast series which examined the relationship between R&D and local economic growth.

While regionalism and place have been climbing the agenda for several years, a new Conservative majority built on a swathe of northern, de-industrialised towns, has given the Government a stronger impetus than ever to boost regional economic growth and tackle the entrenched structural problems within the UK economy.

A commitment has already been made to increase spending on research and development from 1.7 to 2.4% of GDP (and eventually 3%). This represents a huge uplift – more than double the current investment levels and around £60 billion in today’s money. If met, it represents a huge opportunity to boost domestic growth. In that context, examining the relationship between R&D and local economic growth seemed like a timely topic for the 9th roundtable in London South Bank University’s ongoing Policy Breakfast Series.

The full article can be read here