Caporegime
- Joined
- 9 Nov 2009
- Posts
- 25,911
- Location
- Planet Earth
Agreed, it doesn't look especially rosy
http://www.industryleadersmagazine....n-sector-braces-negative-substantial-effects/
The British research and innovation sector, which generates 16 percent of top-impact papers worldwide, will have to brace solid downfall. While Britain paid 5.4 billion euros into the EU research budget between 2007 and 2013, it received 8.8 billion euros back in grants.
British labs, in particular, depend on a quarter of public research funds. A cut in the funding (which could possibly drag on for another decade) will leave a dent on the innovation sector.
British researchers have a limited choice left. British chancellor George Osborn announced last week that he would have to slash public spending to pay for costs of Brexit. The estimated cost is amounting to $100 billion by 2020. Science is vulnerable to the most cuts.
Innovative British companies, including Rolls-Royce and British Telecom rely on single market access and common regulations with 27-nation bloc to save expenses and access free movement. Research and development teams across British companies have made their views clear. It’s clear from the Brexit analysis that Britain would be making huge near-term losses with long-term negative impact.
It won’t participate in EU’s magnetic containment fusion experiments, the most advanced in the world. The EU’s JET reactor has given British engineers a unique edge in technology. The 3.3-billion-euro Innovative Medicines Initiative won’t be open to Britons. British labs will lose R&D opportunities from the EU pharmaceutical industry.
