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A former Conservative science minister has called for science funding to be given greater priority in this year's Budget.
Ian Taylor (Con, Esher & Walton) urged the chancellor to invest in the industry so that "scientific ideas" can be transformed into "useful technologies".
Taylor pointed to increased levels of science funding in America, despite the economic downturn.
"Particularly in a recession, we really need to show that scientists can solve problems," he stated.
The chairman of the Tory policy task force on science also cautioned that government expenditure on research and development had not changed since he was science minister in 1997, remaining at 0.7 per cent of gross domestic product.
Taylor stated: "Now more than ever, government has a role in focusing strong, directed efforts to boost the translation of scientific ideas into useful technologies, and to reinforce the base of science skills that drives this innovation."
He also expressed his support for an increase in government spending, arguing: "When the private sector cannot or will not spend, the government must do so."
And the Conservative MP said that he supported G20 aspirations, stating that globally co-ordinated action is "the only way" to assist UK recovery.
But he warned that the climate of abuse against UK bankers meant that City workers are "growing terrified" of collaboration with government.
This is "not a sensible way to rebuild our financial system", he added.
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