Government plans £150m research & development boost

Ministers are planning to create a £150m national technology strategy, in order to enable UK firms to compete against countries in developing parts of the world.

£90m of the funds will be used to boost nanotechnology research.

The Government is also aiming to strengthen links between businesses and universities, and to educate small businesses on patenting laws.

Trade and industry secretary Patricia Hewitt said, To hold our own in modern manufacturing we need to innovate strongly by creating new high-tech manufacturing industries and upgrading traditional sectors such as steel and textiles.

At the same time we need to raise the level of innovation in our service industries’, she added.