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RESEARCH IS AT RISK!! What is happening to medical science in the UK?
You might think its booming - because of all the Covid trials. The truth is, it's facing a crisis that could be devastating for patients, future patients and the UK.
A thread of new @IPPR research
Today, @IPPR release a new report: #ResearchAtRisk
£7.8 billion of research has been put at risk by Covid (to 2027). The biggest share (£5.3bn) comes down to lost charity fundraising income.
Ultimately, this would mean less treatments for us all.
https://www.ippr.org/files/2020-10/research-at-risk-oct20.pdf
£7.8 billion of research has been put at risk by Covid (to 2027). The biggest share (£5.3bn) comes down to lost charity fundraising income.
Ultimately, this would mean less treatments for us all.
https://www.ippr.org/files/2020-10/research-at-risk-oct20.pdf
There are three Covid risks to medical science
1. Less direct charity investment (£1.4 - £4.0 billion at risk)
2. Less 'crowded-in' investment (£0.6 - £1.3 billion at risk)
3. Less investment from global investors, due to adverse economic conditions (£2.5 billion at risk)
1. Less direct charity investment (£1.4 - £4.0 billion at risk)
2. Less 'crowded-in' investment (£0.6 - £1.3 billion at risk)
3. Less investment from global investors, due to adverse economic conditions (£2.5 billion at risk)
The government have pledged to get R&D investment to 2.4 per cent of GDP by 2027. That's their UK 'science superpower'.
That ambition is now at existential risk.
We'd need life science investment to get to £14.5 billion/year by 2027 - not unrealistic as of January.
That ambition is now at existential risk.
We'd need life science investment to get to £14.5 billion/year by 2027 - not unrealistic as of January.
Now, our model says we'll be between £1.4 billion and £2 billion short PER YEAR in 2027.
Thats bad for life saving treatments
That's bad for economic productivity
That's bad for high paid, skilled jobs
Thats bad for life saving treatments That's bad for economic productivity That's bad for high paid, skilled jobs
It's also bad for diversity in the UK research eco-system
Everyone values charities: patients, universities, businesses. They do research other's wouldn't, because they're motivated by patient priorities
That's often early stage, mission based research which is highly valuable
Everyone values charities: patients, universities, businesses. They do research other's wouldn't, because they're motivated by patient priorities
That's often early stage, mission based research which is highly valuable
We recommend a life science charity partnership fund to support the sector over three years - with the amounts below.
And we recommend the UK government invests in UK life science - its infrastructure, its clinical research capacity, its skills.
And we recommend the UK government invests in UK life science - its infrastructure, its clinical research capacity, its skills.
Good to see @labourpress and @ChiOnwurah back our research and policy calls this morning.
"Today’s IPPR report emphasises the existential crisis facing the UK’s research sector with billions in medical research spending at risk." https://labour.org.uk/press/chi-onwurah-comments-on-the-ipprs-report-into-the-impact-of-covid-19-on-medical-research/
"Today’s IPPR report emphasises the existential crisis facing the UK’s research sector with billions in medical research spending at risk." https://labour.org.uk/press/chi-onwurah-comments-on-the-ipprs-report-into-the-impact-of-covid-19-on-medical-research/
Read all about it in today's Guardian https://www.theguardian.com/society/2020/oct/23/covid-slump-in-medical-charity-donations-puts-research-at-risk
In About Manchester: https://aboutmanchester.co.uk/uk-could-lose-up-to-7-8-billion-of-medical-research-funding-because-of-covid-19-pandemic/
On Yahoo https://uk.finance.yahoo.com/news/coronavirus-uk-charity-sector-set-to-lose-78-bn-for-medical-research-230154006.html
From Cancer Research UK: https://www.cancerresearchuk.org/about-us/cancer-news/news-report/2020-10-23-uk-could-lose-up-to-ps78-billion-of-medical-research-funding-because-of-covid-19-pandemic
On Yahoo https://uk.finance.yahoo.com/news/coronavirus-uk-charity-sector-set-to-lose-78-bn-for-medical-research-230154006.html
From Cancer Research UK: https://www.cancerresearchuk.org/about-us/cancer-news/news-report/2020-10-23-uk-could-lose-up-to-ps78-billion-of-medical-research-funding-because-of-covid-19-pandemic
In Third Sector https://www.thirdsector.co.uk/charity-fundraising-drop-wipe-billions-off-research-spend-report-warns/fundraising/article/1698102
In Health Business UK: https://healthbusinessuk.net/news/23102020/uk-could-lose-£78bn-medical-research-funding
In Health Business UK: https://healthbusinessuk.net/news/23102020/uk-could-lose-£78bn-medical-research-funding
