Policy: Publication of Research England University Research and Knowledge Exchange Budget
Settlement from DSIT underlines that funding is on track to total £8 billion over the spending review period.
Research England has published its budgets for university research and knowledge exchange (KE) funding over 2023-25. The figures are in line with previous indicative budgets and mark progress towards the expected total of £8 billion funding over the spending review period.
The announcement took the form of a circular letter from Research England to heads of English higher education providers showing Research England’s funding budgets for 2023 to 2025 and confirms that allocations will remain stable for the spending review period.
The settlement from the Department for Science, Innovation and Technology (DSIT) is in line with the three-year indicative budgets provided by the Department for Business, Energy and Industrial Strategy (BEIS) in 2022, adjusted for some movement of funds between financial years that does not affect academic year budgets. This will help to deliver research and knowledge exchange for societal and economic benefit locally, nationally and globally.
Jessica Corner, Executive Chair of Research England said:
“Universities are core to an innovation led economy. I am delighted that we have been able to provide continued and stable support to the sector while ensuring a funding environment which supports universities to continue to respond to societal and economic challenges through research and innovation, developing the talent, skills and expertise that are urgently needed and translating discoveries and knowledge for the benefit of society.”
Further details of the announcement are available at the Research England website.