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Public spending reductions will impact science funding and could lead to a "brain-drain" of talent from Britain, the heads of six leading universities have warned.
The vice-chancellors told the House of Lords science and technology committee that cuts would force the best scientists to move to countries that are investing more in science.
Committee chair Lord Krebs passed their concerns on to science minister David Willetts.
Lord Krebs has said there are already significant signals that researchers are going overseas or choosing not to come to the UK, even before the planned cuts have been imposed.
The government had announced that the research budget will be cut, with only "top-flight" work attracting funding.
Speaking to BBC Radio 4's Today programme, Lord Krebs voiced his concerns that the cuts in research funding will lead to an exodus of talent.
"What they said was that the global market for scientific talent is highly mobile and people go where the resources are.
"There are already warning signs that, even with talk of cuts, leading talent is haemorrhaging, going overseas, or we are failing to attract that talent.
"This is not special pleading by the scientific community. The future of the science base is also about the future of jobs and the economy.
"We rely on our ability to attract talent from all over the world. That talent can equally well go elsewhere and there are already warning signs that it will."
A department for business, innovation and skills spokesperson said: "Research, technology and innovation will play a key role in rebalancing the economy and we want science to emerge from these tough economic times to be strong, sustainable and effective. That's why we are committed to making the economic case for science and innovation.
"We cannot speculate on the spending review while the process continues. Public spending on science, just like everything else has to stand up to rigorous economic scrutiny. In these austere times, the public should expect nothing less."
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