Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to 93536 on Research: Finance, if he will make an assessment of the implications for his Department's policies of the reduction of the European Regional Development Fund's regional science spend.

Funding from the European Regional Development Fund (ERDF) is due to finish by the end of 2023. The Government has launched its domestic successor fund, the UK Shared Prosperity Fund (UKSPF), which will ramp up to £1.5bn in 2024-25, matching EU structural fund receipts. UKSPF is being planned and delivered locally and includes provision for interventions that support local businesses to thrive, innovate and grow.

The Government is committed to supporting regional growth across the UK and, to this end, has pledged to increase domestic public investment in R&D outside the Greater South East by at least 40% by 2030.