The Treasury has issued a statement detailing a number of projects that will face the axe under the new austerity regime. From a funding perspective this includes the Newton Scholarships, which were introduced by Peter Mandelson to encourage overseas postgrads to come to the UK. The Newton Fellowships will continue to be funded.
The Dept of Health's Health Research Initiative will also go, as will the University Enterprise Capital Fund.
However, there is some good news: BIS has also announced a series of projects which will be saved from the chop, including the NERC Discovery Ship and the International Space Innovation Centre in Harwell.