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Report commissioned by the European Physical Society says industries that rely on expertise in physics contribute 12 per cent of EU economic output

By Nicholas Wallace

Industries that rely on physics expertise contribute more to the EU economy than financial services or retail, according to a new study.

A report commissioned by the European Physical Society (EPS) says that in the EU, physics made a net contribution to the economy of at least €1.45 trillion per year – or 12 per cent –which is more than retail (4.5 per cent), construction (5.3 per cent) or financial services (5.3 per cent). Physics-based industries, it says, include electrical, civil and mechanical engineering, as well as computing and other industries reliant on physics research.

The EPS paper comes as EU countries debate how much to spend on Horizon Europe, the EU’s next research programme, which will pump billions into scientific research and technological development. The European Commission wants to spend €94.1 billion on Horizon Europe and the European Parliament wants €120 billion, but some member states, particularly Germany, say the Commission’s proposal for the entire EU budget is too big – meaning Horizon Europe could end up much smaller than scientists had hoped.

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