George Osborne's speech in Birmingham today will be remembered for his announcement that the Government is pressing ahead with £10 billion cuts to welfare, but it also contains news of an extra £200 million to support the nation's top research and development businesses, including Jaguar Land Rover.
The Chancellor will announce an extra £200 million of Government funding for the Research Partnership Investment Fund, which supports university capital projects. The Fund was launched at Budget 2012, with £100 million of funding but has been heavily oversubscribed with an overwhelming number of high-calibre bids.
