Cuts of between €500m and €1bn on spending on innovation will lead to a sharp drop in the number of post doctoral and research students and could lead companies to move their research centres abroad, scientists told a parliamentary committee on Wednesday.

The committee is looking into the likely effects of changes in policy at the economic affairs ministry. The ministry is shifting €500m worth of subsidies into tax relief, but this will not be freed up until the project has made a profit, the Financieele Dagblad states.
Much research fails to lead to a profitable project so this move will limit scope, the paper says.
In addition, the cabinet is abandoning the FES innovation fund, which used the proceeds of natural gas sales, the scientists point out.
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