This NCUB report, building on Professor Graeme Reid’s UCL inaugural lecture, draws together some of the arguments and evidence relating to government funding of science and research in the UK, and explores the benefits that come back to taxpayers in return for their investment.

The report highlights that there have been steady improvements in understanding the relationship between science, research and the economy. There are signs that the UK is moving away from the misleading notion of a pipeline between science and wealth, in which fundamental science is only of value once it has been processed through a stage of applied science. Instead, there is a growing appreciation of the science and research base as a delicate ecosystem that delivers a multiplicity of benefits to the economy and society along many complicated, interconnected pathways.