Jeremy Corbyn vows to fund high-technology research agency

Britain needs a £300 million advance research agency to keep it at the cutting edge of high-technology, Labour leader Jeremy Corbyn has insisted.

Mr Corbyn wants the US-style project to make breakthroughs in green technology and combating climate change.

The Labour leader said the initiative would be aimed at attracting some of the globe's finest minds to do their research in the UK.

Mr Corbyn said: "It is crucial for both energy security and tackling climate change that we give the most serious investment and incentives to high-tech R&D.

"My pledge to establish a dedicated advanced research agency will help tackle the global social challenge of climate change and make fundamental breakthroughs in energy science.

"It will put the UK in the best possible place to take advantage of the rapidly growing global renewable energy market, forecast to reach 630bn US dollars worldwide by 2030.

"The Tory cuts to the UK renewables sector - including dramatically cutting feed-in tariffs and subsidies for domestic installation - are nonsensical and a damaging backwards step in our efforts to decarbonise our energy production.

"My pledge is about ensuring that the UK is at the forefront of world-leading technology development in a sector of growing demand."