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$1.5B for British science – Money for buildings, equipment, students

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The British government has announced a two-year, $1.51 billion partnership with the Wellcome Trust for scientific research, Bloomberg reported July 5.

The government hopes that the money will boost high technology business and stop the “brain drain” of talented British scientists to better paid jobs at better equipped labs in the U.S.

The government will supply 325 million pounds in fiscal 2003 and 450 million in fiscal 2004 for scientific buildings, laboratories and equipment. The Wellcome Trust, a science charity with assets of 13 billion pounds, will give 225 million. The money represents a 50 percent increase in annual science spending in the U.K.

The government also announced extra money for PhD science students, increasing the annual grant for graduate students outside London from 6,620 pounds to 6,800 pounds.

For full story, go to America Online.

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