Glasgow to Receive Investment to Boost Science and Innovation

Chancellor Jeremy Hunt announces a funding boost for science and innovation in Glasgow.

12:28 20 March 2023

Chancellor Jeremy Hunt has announced a funding boost for science and innovation in Glasgow as well as the development of investment zones in Scotland and across the UK. The treasury confirmed last week that it will release funding for the development of 12 investment zones to "drive business investment and level up". A £100million funding will also be released to support Glasgow, Greater Manchester and the West Midlands "to become globally competitive centres for research and innovation." 

The chancellor said that the investment zones will focus on green industries, advanced manufacturing, digital technology, life sciences, and creative industries. He explained: “True levelling up must be about local wealth creation and local decision-making to unblock obstacles to regeneration.

“From unleashing opportunity through new Investment Zones, to a new approach to accelerating R&D in city regions, we are delivering on our key priority to supercharge growth across the country”.

Levelling Up Secretary Michael Gove said: “Levelling up means backing local growth across the UK, driving innovation to attract investment and putting power into the hands of local communities so they can reach their full potential. Our new investment zones and Levelling Up Partnerships will deliver more jobs, better services and more opportunities for local people.”