Science agency - yes. Secrecy - no. Conservative cronies - no. Recruitment and spending must be transparent, demand Liberal Democrats

"Liberal Democrats have long called on the Government to invest in new technologies that will create future jobs - so the just-launched UK new "high risk" science agency is a step forward. But the secretive nature of the fund spending taxpayer money with next to no oversight isn't the right answer," Newcastle Liberal Democrats Business Spokesperson Cllr Robin Ashby has said.

"We need to see serious investment in R&D as part of a comprehensive industrial strategy, that will have jobs, regional development and green growth at its core.

"It is vital that the fund's Chair and CEO are selected in a transparent and impartial manner. The Government must urgently provide more information about the selection process and guarantee that we won't witness the appointment of yet another Conservative crony."