News, Policy & Media

01Jun

Department for Business, Energy and Industrial Strategy sets UKRI’s new budget

The Department for Business, Energy and Industrial Strategy have this week confirmed UKRI’s detailed three-year budget allocations. The allocations set out how it will invest £25 billion in world-class research and innovation that will deliver benefits for communities across the UK.

Please see the below information sent to stakeholders from the UKRI Medical Research Council team:

Key points for the MRC budget

  • On 30 May 2022, UKRI confirmed a total budget of £1.75 billion for core research supported by MRC from 2022-23 to 2024-25.
  • This is a 9% increase in our core research budget between 2021-22 and 2024-25 rising from £563 million to £615 million.
  • This core research budget does not include substantial investments we will also make in our continued COVID-19 response, Infrastructure, existing cross-UKRI strategic programmes, or, through the wider UKRI budget, in Training and Careers, due to a new collective approach.
  • Beyond our core allocation, there will be significant new opportunities for increased investment across a range of enhanced cross-UKRI strategic programmes.

“This allocation builds on activity over the last few years that demonstrates the benefit and impact of working together as UKRI. Collectively we were able to support a research response to COVID-19 on a scale that would previously not have been possible. The medical research community has already benefitted from an enhanced and collaborative approach to infrastructure, including support for World Class Labs and large-scale funding to establish a new Adolescent Health Cohort. The funding allocation announced today will provide more opportunities for increased investment and collaboration across the sector and beyond.”.

Please find a PDF document detailing the budget here.

 

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