Oral Answers to Questions
Debate between Lord Johnson of Marylebone and Alison Thewliss(8 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Minister for Universities and Science (Joseph Johnson)
Yes, I do agree. Science and innovation are among the UK’s greatest strengths, and the example my hon. Friend gives—I believe he is referring to the drug discovery firm Summit plc—is a good example of the way public investment in R and D crowds in additional private investment. Every £1 the public invests in R and D crowds in an additional £1.36 of investment on average.
Alison Thewliss (Glasgow Central) (SNP)
T4. Scottish Renewables announced yesterday that the sudden early withdrawal of the renewables obligation has already hit investment in projects, deeply concerning the sector. What assessment has the Minister made of the further impact the Government’s stance could have on the future viability of institutions such as the Green Investment Bank and the innovation they fund?