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Chancellor pledges big increase to research spend

The UK Government has pledged to double spending on research and development (R&D) by 2024. Prof Sir Robert Lechler, president of The Academy of Medical Sciences, said "This increase in funding has the potential to transform our capacity in medical research and our ability to address major health and societal challenges."

The pledge means that the government may exceed its target of boosting the proportion of private and public R&D spend from 1.7% to 2.4% by 2027.

The chief scientific adviser, Patrick Vallance, welcomed the announcement.

"This significant increase in funding for research and development represents an overwhelming endorsement of our world-leading science base," he said.

"It puts the UK in an excellent position to lead the field in science and successfully meet the challenges of the future."

To read more see the BBC website.