Research into drug treatments and longer-lasting batteries will receive new funding as part of an £86 billion package for science and technology set to be announced in next week’s spending review.

Regions will be handed up to £500 million with local leaders given powers to decide how investment is targeted in their communities, the Department for Science, Innovation and Technology (DSIT) said.

The overall package, which will be announced as Chancellor Rachel Reeves sets out departmental spending plans on June 11, is expected to be worth more than £22.5 billion-a-year by the end of the decade.

DSIT said “every corner of the country” would benefit as local leaders are given a say on how the money is spent on leveraging expertise specific to their communities.

In Liverpool , which ha

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