My Lords, I strongly support Amendment 502. Indeed, until I saw it I had been minded to submit a similar amendment myself. My desire is to ensure that Innovate UK receives appropriate funding and the amendment happens to fit that rather well.
I believe that while the distribution of money across the research councils should to a significant extent be determined by UKRI, the allocation to Innovate UK which, I remind noble Lords, is to benefit persons carrying on business in the United Kingdom and improving quality of life in the United Kingdom, as laid out in the Bill, should be determined by the Secretary of State, and then not interfered with. It is important to emphasise that this allocation cannot be altered by UKRI without the specific approval of Parliament, by means of a resolution of each House. The criteria used by Innovate UK to determine which projects to fund are of a completely different nature to those used by the research councils. The noble Earl, Lord Selborne, mentioned this, and I shall mention it with other amendments; they are different to those used by the research councils to determine excellence in research in science, the arts and the humanities.
While it is important that UKRI ensures that there are strong links between the research councils and Innovate UK, the allocation to Innovate UK should not be balanced against that to the research councils. It should be determined as a separate matter of national concern in consultation with industry and others by the Secretary of State.
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