21 October 2010 16:08 [Source: ICIS news]
LONDON (ICIS)--Education cuts announced as part of UK chancellor George Osborne’s spending review on 20 October pose a grave risk to industry, David Brown, CEO of the Institution of Chemical Engineers (IChemE), said on Thursday.
Brown said that cuts to the education budget could harm the ?xml:namespace>
“If we can’t produce enough talented scientists and engineers each year to meet industry demand, inward investment will suffer and our economic prosperity will be further weakened,” Brown said.
In addition, Brown said that the decision to freeze the science budget in cash terms would also mean that tough times are ahead; however, he cautiously welcomed the news, saying that things could have been considerably worse.
The UK energy and climate change budget was also cut by 5% and Brown urged caution on where the savings might be made.
“…slashing investment in low-carbon technology now will cost more money in the longer term,” he said.
($1 = €0.72)
To discuss issues facing the chemical industry visit ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections