UK science superpower aspirations hindered by short-termism

A recently published report by the Council on Geostrategy points to chronic short-termism as one of the primary factors hindering Britain's aspirations to become a global science and technology superpower. The document, titled "British Science and Technology in 2024: Implications for Net Zero," was authored by Dr Mann Virdee and is part of the Caudwell Strong Britain research project, commissioned by prominent business leader and philanthropist John Caudwell. The report has garnered attention ahead of a crucial snap election.

The report opens with a foreword by former Prime Minister Tony Blair, who served from 1997 to 2007. Blair underscores the urgency of adopting a coherent vision for science and technology to rectify the UK's dwindling status in this sphere. "The government's lack of a coherent vision for science and technology, the shortage of investment, and brain drain are serious threats to the UK's reputation and standing," Blair observes.

Between 1990 and 2021, the UK decarbonised faster than any other nation in the G7. Despite this accomplishment, the report indicates that Britain has lagged in capitalising on the global shift towards a green economy. It currently trails behind the United States, China, and numerous European Union countries. Surprisingly, this comes even though the UK is one of only three nations with a technology sector valued at over USD $1 trillion.

John Caudwell, the business leader behind the report, emphasises the pressing need for the next government to take decisive actions. "The release of the Caudwell Strong Britain findings should be a wake-up call to all political parties to address these urgent matters in their manifestos. It's a direct challenge to the next government to take bold action," he expressed.

Dr Mann Virdee, the report's principal author, highlights several key deficiencies that the UK must address if it wants to maintain or increase its science and technology capabilities:

- Incoherent strategy: Britain lacks a proper industrial strategy.

- Average business investment: The lack of investment means many businesses fail to cross the 'valley of death' and either close or relocate.

- Short-term funding: Funding mechanisms are chronically short-termist, which stifles long-term innovation.

- Bureaucratic burden: The current application process for funding is cumbersome, especially for small businesses.

- Risk aversion: The UK should adopt a more risk-tolerant approach in research and development (R&D), especially for achieving Net Zero objectives.

- Skills gap: The current visa system hampers the attraction of top international talent.

- Limited access to infrastructure: R&D infrastructure will deteriorate without adequate investment and maintenance.

Based on these identified weaknesses, the report offers ten recommendations for the next government to enable the UK to retain its competitive edge. These include prioritising R&D spending, developing an industrial strategy, liberalising planning laws, reforming visa arrangements, preventing critical elements from being sold to foreign competitors, and increasing support for business scale-ups.

Dr Virdee cautions that while the UK government aspires to establish the country as a science superpower, significant gaps remain between rhetoric and reality. He notes that the international landscape is rapidly evolving, with many countries seeking to expand their R&D activities. "The international environment is rapidly changing and countries around the world have ambitions to grow their R&D activities in science and technology," he warned.