As the UK’s new Coalition government is proceeding towards accomplishing its promises made during campaigns, many plans approved by the former Labor government are going to suffer. Reports say that the government is planning to cut down the funding for the UK Center for Medical Research and Innovation it was entitled for this year.

The research center will be getting £17 million only, a heavy cut form the planned funding promised by the former Gordon Brown-led Labor government. Earlier, it was entitled to a funding of £250 million. Despite the cut, the Coalition government is committed to the project and likely to spend the remaining funds (of £250 million, deducting £17 million) on the UKCMRI over the next 5 years. Reportedly, this cut is a part of the government’s decision to slash £6.2 billion on various projects, as announced by the government’s new chancellor recently.

The UKCMRI project includes activities like construction of a new building that would cost £500 million near the St. Pancras International Rail Station, London; and appointing a permanent chief executive. It is being cleared that the project would not suffer because of the cut. The necessary funds will be provided when it needs.

UKCMRI project is a joint venture of the Cancer Research UK; the Medical Research Council; the Wellcome Trust; and University College London. The project is likely to be operational in the 2015-16 fiscal year, with almost 1,500 researchers. Reportedly, the inhabitants of the area near to the site where the research center is to be built are not in favor of the construction. However, government and other prominent figures have advocated that the project would be instrumental in attracting world-class researchers to the United Kingdom.