Science And Tech Would Be Hit Badly By No-Deal Brexit

The science and technology sectors in the UK would be among the worst affected if there is a no-deal Brexit in 2019, new research has suggested.

Mayor of London Sadiq Khan commissioned a study to look at the impact that the various potential outcomes of Brexit would have on different industry sectors.

The Register noted that, if no deal between the UK and the rest of the EU is agreed, it would have a significant negative impact on the science and technology industry, resulting in an estimated 92,000 fewer jobs in these areas by 2030.

However, digital technology would be hit harder than life sciences when it comes to job losses, the report noted.

One of the biggest concerns post-Brexit is going to be funding for life sciences projects. At present, the EU runs a funding scheme, known as Horizon 2020, which funds a variety of research projects across the science and technology sectors.

The fund stood at €80 billion for 2014-2020, with the UK attracting between €1 billion and €1.5 billion a year from this pot.

Although the government has pledged to underwrite any EU funding that was won before Brexit or the initial exit deal in December, there are concerns about how a similar level of funding would be obtained after the country leaves the EU.

However, the Life Sciences sector deal that was announced by the government in December last year could provide some answers, with the government aiming to develop a programme of co-investment in life sciences projects between Whitehall and private firms.

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