UK science start-ups and spin-outs are being hit by a Tory quadruple whammy!

Chi Onwurah 

(Newcastle upon Tyne Central) (Lab)

Across the country, our regions are home to thousands of brilliant science start-ups and spin-outs, but they are being hit by a Tory quadruple whammy: slashing R&D tax credits, leaving with them an average of £100,000 less to spend on research a year; a £120-million cliff-edge loss of European regional development funding; lack of access to capital—the UK has the lowest business investment in the G7; and continuing uncertainty over association with the £95-billion Horizon Europe, the biggest science fund in the world. Which of those barriers to growth for our innovative businesses will the Minister sort out today?


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