I’ve just received this email through giving details of the RCUK funding for the 2014-15 period:

Recurrent funding for research and knowledge exchange

Recurrent funding for research and for knowledge exchange (through Higher Education Innovation Funding) has been held constant in the BIS grant letter to HEFCE and is protected through the science and research ring-fence. We are therefore maintaining these budgets for the 2014-15 academic year at the same level as last year: that is, £1,558 million for research and £160 million for knowledge exchange.