The amount of funding awarded to UK universities under the Research Excellence Framework is to rise by 10 per cent to almost ?2 billion a year.
In a statement , Research England said quality-related (QR) funding will go up by ?185 million from ?1.79 billion in 2021-22 to ?1.97 billion in 2022-23.
Another ?2 billion in QR-related funding has also been allocated for 2023-24, it added.
The confirmation follows the publication of the results of the 2021 REF, the sector-wide evaluation of UK research, in May in which 41 per cent of outputs submitted by 76,132 academics were deemed “world-leading”.
In addition, ?328 million has also been allocated for university knowledge exchange activities in 2022-23, and again in 2023-24, of which ?260 million will come through the formula-led Higher Education Innovation Fund (HEIF).
That represents a 13 per cent increase for the HEIF, up from ?230 million a year, which focuses on commercialisation, business collaboration and local growth.
Announcing the uplift in Research England spending, the council’s executive chair David Sweeney said the funding would provide “sustained support from government for universities to make real progress on a broad range of research and knowledge exchange challenges”.
“This investment, alongside that of other funders, business and from universities themselves, will deliver economic and social impact and benefit people and communities right across the country,” said Mr Sweeney, who will retire in October after overseeing the REF since 2008.
The Research England plans also confirm that some ?36 million will be spent annually over the next two years on “enhancing research culture”, while ?206 million will spent on research capital in 2022-23, rising to ?215 million in 2023-24 and ?228 million in 2024-25.
