Finance Monthly. 7 The Monthly Round-Up HORIZON NEWS HUGE WIN FOR UK R&D SYSTEM, SAYS NCUB NCUB welcomes the news that the UK looks set to rejoin the Horizon Europe after two years of absence post-Brexit. Commenting on the news, Dr Joe Marshall, Chief Executive of the National Centre for Universities and Business (NCUB) said: “NCUB welcomes the Government’s imminent success in agreeing continued association to Horizon Europe. Investing in global research partnerships is critical to maximise UK universities and business’ ability to lead projects, generate high-impact outputs and realise a range of economic, health, environmental and social benefits for the UK.” Marshall continued: “The UK will benefit hugely from its association with Horizon Europe and the returns are significant. Indeed, for every €1 spent, the direct and indirect economic effects produce €11. The UK is particularly well placed to capture a disproportionate share of the economic value that Horizon generates due to the strength and diversity of our research base and our many innovative businesses. Association also sends an important and positive signal to businesses undertaking research and development in the UK. It helps make the UK the best place in the world to invest in research.” Marshall concluded: “This is a hugely positive step forward for UK research and development. However, the battle is not yet won. We are now calling on the UK Government and the European Commission to finalise arrangements as soon as possible. Only then will UK researchers once again play a leading role in delivering important projects through Horizon Europe.” The Bank of England has decided to pause interest rates. This follows the Federal Reserve decision yesterday to pause interest rates. The decision to pause rates follows recent official inflation data when the rate of price rises came in lower than expected. Core UK inflation – which excludes energy, food, alcohol, and tobacco – fell by more than expected, from 6.9% in July to 6.2% in August. The current rate of inflation is 6.7% with the BOE target rate set at 2%. MPC voted by a majority of 5–4 to maintain Bank Rate at 5.25% UK GDP is estimated to have declined by 0.5% in July CPI inflation is expected to fall significantly. Next decision due date: Next due: 2 November 2023. BANK OF ENGLAND HOLD INTEREST RATES AT 5.25%
RkJQdWJsaXNoZXIy Mjk3Mzkz