Cutting edge science projects that boost innovation, growth and jobs are being targeted with a £300 million government investment package.

Science minister David Willets said the money would go towards British scientists and businesses who are working together on “some of the most exciting scientific projects of the future”.

The money will be split between several projects including one to create a giant neutron telescope, an ultra-sensitive radio telescope and £25 million to participate in the M3 space mission.

The UK space sector supports 95,000 jobs and generates £9.1 billion for the economy. Mr Willets said the new investment will return £150 million a year in increased output.

The new money adds to a £270 million investment in quantum technologies announced by the chancellor in his Autumn Statement last year.

Mr Willets said: “It's about investing in our future, helping grow new industries and create more jobs - and that will mean more financial security for people across the country."