Protecting the science budget is first step in sectors recovery
Protecting the science budget is first step in sectors recovery, says REC Pharmaceutical & Scientific
Following last months Comprehensive Spending Review, the REC has been monitoring the impact that public sector cuts will have on different sectors of the recruitment industry including highly-skilled areas such as pharmaceutical & scientific sector.
The Government announced a freeze in the science research budget and gave the go ahead for The Centre for Medical Research and Innovation - a 550 million joint initiative between Cancer Research UK, the Medical Research Council, University College London and the Wellcome Trust. The Centre will receive 220 million Government grant.
Commenting on the impact of the Governments plans, Lawrence Levy, Chair of REC Pharmaceutical & Scientific, said:
Science and research have a big part to play in securing the country's economic recovery. It is through these channels that we can secure sustainable and long term benefits for our society. Although, we would like to see more resources going towards that direction, we welcome the Government's announcement to freeze the 4.6bn science budget in cash terms, rather than cut it.
To secure the sector's long term growth further, we now need to focus on developing the necessary skills base. The imperative is to ensure that we build a strong pipeline of talent for the sector and that our young job-seekers are getting the guidance they need to take the crucial first step onto the jobs ladder. At the same time we need to ensure that all routes to the international talent pool are open."
Through its Youth Employment Taskforce report Avoiding a Lost Generation, the REC has outlined practical measures for up-skilling UK workers and for enhancing practical guidance on future job opportunities in growth sectors such as the pharmaceutical industry. In its response to recent consultations by the Migration Advisory Committee and the UK Border Agency, the REC has highlighted the implications that the cap on economic migration will have on the ability of UK businesses to access the right level of talent.