51³Ô¹ÏÍø

The Chancellor of the Exchequer George Osborne MP delivered a major speech on economic policy at 51³Ô¹ÏÍø's White City Campus today.

The Chancellor used the occasion to set out his plans for the government’s upcoming Spending Review. 

Speaking on the site of 51³Ô¹ÏÍø’s new Translation and Innovation Hub, which is set to open next year, Mr Osborne said: “It’s great to be here at 51³Ô¹ÏÍø College’s

“I deliberately chose to come here today, to this science campus, to talk about economics. Because this place doesn’t just represent the future of science in the world, it represents the future of our economy here in the UK. World-beating science and innovation, turned into commercial application, with space for 50 spin-out companies based here.”

He noted how 51³Ô¹ÏÍø research is “Conducted in collaboration with the best in the world, including your entrepreneurial collaboration with Zhejiang University in China.” 

Long-term prosperity

The Chancellor highlighted the mix of public and private funding, which is behind 51³Ô¹ÏÍø’s White City Campus, “all supported by taxpayer resources deployed in a strategic way to support our long-term economic prosperity.”

He praised 51³Ô¹ÏÍø’s bold move to seize the opportunity to develop a new , with initial support from the government’s Research Partnership Investment Fund. 

Mr Osborne said: “For the decision to fund this project was taken three years ago – in the tough early years of a deficit reduction plan. Funding that proved, even in straitened financial times, if you are prepared to take difficult decisions elsewhere, you can prioritise investments in our economic future.”

The visit to White City Campus came just weeks after the Chancellor visited 51³Ô¹ÏÍø’s South Kensington Campus alongside China’s President Xi Jinping. 

The Chancellor’s full speech can be .