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The Science Research Investment Fund (SRIF)

The Science Research Investment Fund (SRIF) is a temporary scheme aimed at refurbishing the UK university science estate, providing new science equipment and infrastructure. SRIF funding is provided on a UK wide basis by the Department of Innovation Universities and Skills with additional contributions made by Higher Education Funding Council for England, the Scottish Funding Council in Scotland, the Higher Education Funding Council in Wales and Department of Employment and Learning in Northern Ireland. The scheme commenced in 2002, with funding having increased from £400m a year in 2002 - 2004 to £500m a year in 2004 - 2006, which has gone some way in addressing the historic backlog in university science investment. In 2004 government announced a continuation of this level of funding to 2008.

Additional funding for infrastructure improvements comes from charities, business sponsorship and research organisations. Universities themselves are required to contribute 10% of the total cost of SRIF projects, but this amount is often exceeded

Recent studies undertaken by DIUS indicated that SRIF funding has achieved significant benefits such as the establishment of laboratories to high standard enabling universities to carry out quality projects from various funding sources, and to compete globally.

The Capital Investment Fund

The Comprehensive Spending Review (CSR) settlement announced a new permanent Capital Investment Fund within the science budget in October 2007. The proposals will see capital funding continue to be provided by DIUS (and the Funding Councils). The Science Budget element of research capital would be allocated to HEIs in proportion to the funding they receive from Research Councils. Estimated to be equivalent to about 10% of FEC (this would have the effect of moving RC funding to 90% FEC - 80% recurrent and 10% capital).

Levels of funding from the science budget for the new capital fund will be around £135m/ £185m/ £190m over the three years of the CSR period.

To help smooth the transition from SRIF to the new Capital investment Fund arrangements, some transition funding will be available over the three years of the CSR period.

This represents the Science Budget contribution to research capital funding on a Uk-wide basis. In England, further capital funding will be provided from within the Higher Education capital budget (£266m/ £266m/ £292m over the three years). The two streams of funding will be distributed to institutions and managed as a single funding line. We expect that capital funding will also be made available for HEI’s in their respective areas by devolved administrations in Scotland, Wales and Northern Ireland, as was the case with SRIF.