Steve Beasant

Liberal Democrat Prospective Parliamentary Candidate for Great Grimsby and Councillor for the East Marsh Learn more

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Chancellor cheats start-ups on £2.3bn research fund

by Steve Beasant on 22 November, 2017

This is merely substitute money for money being lost due to Brexit.

The following article was written by Liberal Democrat Treasury Spokesperson Susan Kramer and published today on the Liberal Democrat Website.

The Chancellor’s announcement of £2.3bn extra for research and development is a con.

This £2.3bn only just about replaces the money British firms were receiving from the European Investment Fund, so this is merely substitute money.

British firms are already finding their funding is drying up as Brexit looms, yet there is hardly a British tech company that hasn’t benefited from the European Investment Fund.

It is no surprise that the pound plummeted during Philip Hammond’s speech – if the Chancellor were on I’m a Celebrity, he would have been voted out of the Jungle.

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