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Big News from Spring Budget 2024: Investing in a Bright Future for the UK

Posted on March 6, 2024

The Spring Budget 2024 just dropped, alongside some exciting news from the Chancellor, and we couldn’t wait to share it with you. Get ready as we break down what’s happening in the world of research and development.

Life Sciences

All of those life-saving medicines and diagnostic tools are about to be boosted into action – thanks to a £92 million investment. So if you’ve got an idea up your sleeves, now is the time to start planning. The UK Government is teaming up with industry affiliates to expand manufacturing facilities right here in the UK.

Automotive

The future of driving just got almost £73 million in the tank, revving up efforts across the UK to get more from electric vehicles (EVs). From next-gen batteries, to super-efficient motors, could you be leading the charge in EV innovation?

Aerospace

Is soaring through the skies in a zero-carbon aircraft your dream? With nearly £200 million being invested in to the industry, you could be taking off on your mission to develop cleaner, greener planes. From smart wings to eco-friendly fuels, the sky is your limit.

The Bottom Line: Bright Days Ahead

The big takeaway from recent announcements and the Spring Budget 2024 is simple: the future of innovation in the UK is looking bright. With investments in R&D, the opportunities for innovation and progress are (almost) limitless.

For more information, check this page from the gov.uk and to discuss the in’s and out’s of your innovation project, get in touch with our experts today.