"a minimum of 5 percent savings and efficiencies against their current budgets."
"The Treasury was looking for any money it could grab. Did you get a call from finance at DSIT saying we need you to find some economies?"
"No," Clifford said. "We've not had any problems in this regard at all."
ARIA was exempt from the pre-Spending Review instruction for departments to identify a minimum of 5 percent savings and efficiencies against current budgets. Departments were asked to find savings ahead of the Spending Review, but ARIA did not receive requests from HM Treasury or the sponsoring department to return unspent funds or to identify economies. ARIA was announced in 2021 and formally established in January 2023 to fund high-risk, high-reward transformational research. Initial funding of £800 million for five years was increased by the Spending Review to £1 billion and extended to cover until the end of 2028-29. Treasury conducted intensive scrutiny of ARIA's budget during the Spending Review process.
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