Re: Funding based on historical precedent
Because Britain has a long and honourable tradition of beating the world through boffins tinkering at the bottom of the garden equipped with nothing more than bits of an old radio, some sealing wax, a garden shed and a bottomless supply of hot, sweet tea; government funding is proportional to the current cost of a shed and Morrisons own-brand teabags.
And not forgetting that the other part of the tradition is to lead the world for a short time, and then at a critical moment have the Government chop away the funding, allowing another country - usually the US - to profit from it. See the early history of nuclear power stations, gas turbines, supersonic aircraft (I'm thinking Miles M.52), digital computers, radar etc. etc.
Biting the hand that feeds IT
