LABOUR’S Shadow Science Secretary has pledged to boost the UK research and development sector (R&D) during a visit to a Hampshire town.

Ahead of the local elections on May 2, Peter Kyle MP visited Farnborough on Tuesday, April 16, where he pledged to UK’s R&D sector by ending ‘Conservative short-termism and attracting long-term investment’.

On a visit to bus manufacturer Alexander Dennis’ state-of-the-art product development and zero-emissions testing facility, Mr Kyle highlighted Labour’s pledge to create a more stable and streamlined funding process for key R&D institutions, with 10-year budget cycles.

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He said: “The Conservative Government has completely failed to support the UK’s vital science and technology sector. Here in Farnborough, there is so much potential for amazing new projects, but companies are being held back by a lack of ambition from this government.

“Labour will end this record of failure from the Government. We will give tech companies, R&D companies, the certainty and stability they need to thrive through longer-term funding cycles. Aldershot and Farnborough could become a major tech hub for jobs and growth. With a Labour government that is willing to support this industry, it will.”

Labour have said that the Conservatives have overseen a series of one-to-three-year funding cycles, ‘undermining confidence in the UK science industry and failing to crowd in private sector investment’.

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Adding that many new R&D projects take more than five years to pay back seed funding, meaning short-term funding cycles ‘inhibit new innovation’.

Alex Baker, Labour’s candidate for the Aldershot constituency, added: “I am delighted that Peter Kyle MP, Labour’s Shadow Science and Technology Secretary, has come to Farnborough to see some of the fantastic work being done by companies like Alexander Dennis.

“If elected as the Labour MP for Aldershot, I will work with a Labour government to deliver the stability and certainty that this important local industry needs to grow and thrive. It’s time for change, and only a Labour government and a Labour MP in Aldershot and Farnborough can deliver the change our R&D sector needs.”