Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Minister stresses importance of physics research for the UK economy

28.11.2007
‘The new science and innovation agenda’ was the topic of lively discussion last night, Monday, November 26, at the Institute of Physics (IOP) Key Insight Business Briefing. Representatives from businesses across the UK attended the event to hear both the Minister of State for Science and Innovation and Sir John Chisholm, Executive Chairman of Qinetiq, set out their vision for science in the coming decades.

IOP used the opportunity to highlight their recent research which demonstrates the important contribution that the physics-based sector has been making to the UK economy since 2000.

The research shows that the physics based sector, defined as businesses using modern and advanced elements of physics in their business processes, contributes £70 billion to the UK’s economy and makes up 6.4 per cent of total UK economic output. When productivity in the physics realm is compared across all industries in the UK, the physics based sector comes over as a high performer - being almost twice as productive as the average.

The research stresses the importance of investment in Research and Development which has waned in recent years. From 2001-2004 there was a 14 per cent drop in total R&D investment by the physics sector. The government’s 2007 R&D scoreboard also suggests that UK firms are struggling to keep up with companies from competitor economies in this area.

Minister for Science and Innovation, Ian Pearson, speaking at the event, said:

“Physics makes a key contribution to the UK economy through the one million jobs where the use of physics based technologies or expertise is critical to the existence of the sector, concentrated in 32,000 businesses.

“From an already strong position, the wider UK research base is improving – helped by rising funding. The science budget has more than doubled over the last decade. It will have tripled to £4bn by 2010-11.

“The Government is committed to ensuring Britain maintains its position as a world-class hub for scientific excellence. And we must be a world leader in transforming scientific and technological advances into successful new products and services.”

Dr Robert Kirby-Harris, chief executive of the Institute of Physics, said, “Politicians and business leaders alike are aware of the contribution that successfully applied physics can make to the whole UK economy. Increases in science funding and the political recognition of the importance of science to society are both causes for celebration but we are concerned to ensure that this greater emphasis on innovation should take place alongside a continuing commitment to well funded basic science research.”

Charlie Wallace | alfa
Further information:
http://www.iop.org
http://www.iop.org/activity/business/Publications/Physics_and_the_Economy/page_4388.html

More articles from Physics and Astronomy:

nachricht From rocks in Colorado, evidence of a 'chaotic solar system'
23.02.2017 | University of Wisconsin-Madison

nachricht Prediction: More gas-giants will be found orbiting Sun-like stars
22.02.2017 | Carnegie Institution for Science

All articles from Physics and Astronomy >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Breakthrough with a chain of gold atoms

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

Im Focus: DNA repair: a new letter in the cell alphabet

Results reveal how discoveries may be hidden in scientific “blind spots”

Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send “repair-proteins”...

Im Focus: Dresdner scientists print tomorrow’s world

The Fraunhofer IWS Dresden and Technische Universität Dresden inaugurated their jointly operated Center for Additive Manufacturing Dresden (AMCD) with a festive ceremony on February 7, 2017. Scientists from various disciplines perform research on materials, additive manufacturing processes and innovative technologies, which build up components in a layer by layer process. This technology opens up new horizons for component design and combinations of functions. For example during fabrication, electrical conductors and sensors are already able to be additively manufactured into components. They provide information about stress conditions of a product during operation.

The 3D-printing technology, or additive manufacturing as it is often called, has long made the step out of scientific research laboratories into industrial...

Im Focus: Mimicking nature's cellular architectures via 3-D printing

Research offers new level of control over the structure of 3-D printed materials

Nature does amazing things with limited design materials. Grass, for example, can support its own weight, resist strong wind loads, and recover after being...

Im Focus: Three Magnetic States for Each Hole

Nanometer-scale magnetic perforated grids could create new possibilities for computing. Together with international colleagues, scientists from the Helmholtz Zentrum Dresden-Rossendorf (HZDR) have shown how a cobalt grid can be reliably programmed at room temperature. In addition they discovered that for every hole ("antidot") three magnetic states can be configured. The results have been published in the journal "Scientific Reports".

Physicist Dr. Rantej Bali from the HZDR, together with scientists from Singapore and Australia, designed a special grid structure in a thin layer of cobalt in...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Booth and panel discussion – The Lindau Nobel Laureate Meetings at the AAAS 2017 Annual Meeting

13.02.2017 | Event News

Complex Loading versus Hidden Reserves

10.02.2017 | Event News

International Conference on Crystal Growth in Freiburg

09.02.2017 | Event News

 
Latest News

Stingless bees have their nests protected by soldiers

24.02.2017 | Life Sciences

New risk factors for anxiety disorders

24.02.2017 | Life Sciences

MWC 2017: 5G Capital Berlin

24.02.2017 | Trade Fair News

VideoLinks
B2B-VideoLinks
More VideoLinks >>>