UK can create own £22bn ‘Silicone Valley’ thanks to Brexit: ‘Would take EU 20 years’

When whether the UK can have a “Silicon Valley”, Mr Freeman told the Committee: “We have to make our UK ecosystem, UKRI, the research councils, the public labs, our research universities, that ecosystem to compete has got to take on China investing £240billion a year, America £180billion a year. We are going from 15 to 20 and the 22 which is fantastic.

“But we have to make that hum like a formula 1 engine, it has to be the best, most agile and creative.”

In the autumn budget review, Chancellor Rishi Sunak’s pledged to boost spending on research and development (RD) to £20billion by 2024/25.

This will increase to £22billion in 2026/27.

Article source: https://www.express.co.uk/news/science/1584563/uk-silicone-valley-brexit-eu-george-freeman-science-superpower