Conclusion 20

The Science and Technology Facilities Council (STFC) spent £1,031 million last year, a 27% increase compared to 2021–22 when it spent £810 million.40 The budget which UKRI has allocated to the Science and Technology Facilities Council (STFC) over the Spending Review period will require it to reduce its spending compared with its previous plans: the budget for 34 Q 31 35 Q 52 36 Qq 33, 51 37 Q32, C&AG’s report para 2.6 38 IRI0006, IRI0012, IRI0026 39 IRI0012 40 UK Research and Innovation, Explainer: STFC prioritisation outcomes 2026 to 2030, July 2026 13 2029–30 is £877 million.41 In a recent open letter, UKRI’s Chief Executive explained that this was partly caused by an ‘ambitious’ programme from the previous Spending Review period while some projects were costing more than expected. Rising energy costs and unfavourable movements in foreign exchange rates had also increased STFC’s annual costs by over £50 million a year.42