NCUB responds to Chancellor Rachel Reeves’s Mais Lecture

The National Centre for Universities and Business (NCUB) welcomes the Chancellor’s Mais Lecture, which sets out a vision for a more active and strategic state focused on stability, investment and reform.

Rosalind Gill, Director of Policy, Analysis and External Affairs of NCUB, said:

“The Chancellor is right to focus on stability, investment and reform as the foundations for long-term growth. Commitments to the Oxford Cambridge corridor, alongside plans to expand Luton Airport and invest in regional water infrastructure, reflect a more interventionist approach to unlocking growth. At the same time, measures to accelerate delivery, including potential use of compulsory purchase, underline the government’s intent to move quickly.”

“We know that investment in infrastructure and skills is fundamental to growing business investment in areas like R&D and innovation that are critical if the UK wants to lead in AI and other emerging technologies. The announcements today, including the investment into new quantum computing capabilities, are therefore important and significant to the nation’s future prosperity.”

“That said, there is undoubtedly more that still needs to be done. Data shows that businesses are not investing in areas like R&D and innovation in the UK as much as they are in many other countries around the world. What the UK now needs is greater focus on areas where it can be genuinely globally leading, supported by clearer conditions for business investment.

“The challenge is not a lack of ambition or capability but ensuring that this translates into sustained business activity and growth. This means creating an environment that supports not just investment, but a stronger entrepreneurial culture, where businesses have the confidence to scale, innovate and invest alongside government, underpinned by clear priorities, alignment and long-term direction.”