Research and development is an investment, not a cost, and if the UK is to maintain its world-leading position it must commit to long-term funding

The research sector has been a consistent, if sometimes undervalued, UK success story, with countless examples of breakthroughs that have transformed our understanding of the world and the way we live in it, and contributed significantly to our health and wealth.

In Manchester last week we celebrated 20 years since the Nobel prize-winning discovery of graphene by researchers at the University of Manchester. Graphene has completely reshaped many research areas including materials science and condensed matter physics, reaching far beyond into life sciences, and now gradually but steadily expanding into industrial and consumer products.