£195 million for science projects - graduate jobs

The Government plans to spend £195 million on a number of science projects which could bring thousands of new jobs for graduates.

Chancellor George Osborne said that £50 million is to be invested in a new global research and technology centre, with the aim of identifying how graphene can be commercialised.

The material, discovered by researchers at the University of Manchester, is the strongest material currently known and the best conductor for electricity. Its discovery won professors Andre Geim and Kostya Novoselov the 2010 Nobel Prize for Physics.

High-performance computing projects will receive another £145 million in a bid to increase the GDP by £25 billion and create at least half a million highly skilled jobs in the next 10 years.

It is hoped that the new centre will lead to the creation of new businesses and make Great Britain an attractive country to invest in, leading to jobs and prosperity in the UK.

Copyright Press Association 2011