From BBC News.

Funding for a new Institute for Web Science, set up with a £30m grant from the department for Business, Innovation and Skills (Bis) has been cut.

The collaboration between the Universities of Oxford and Southampton, announced in March 2010, was led by web creator Sir Tim Berners-Lee and Professor Nigel Shadbolt.

Both are also leading the government’s open data project data.gov.uk.

BIS said it was a “low priority” as it announced its efficiency savings.

The cut is part of Chancellor George Osborne’s plans to make £6.2bn savings in order to reduce the budget deficit.

A spokesperson from Bis said that the government remained committed to investing in internet technology research elsewhere but that it “cannot support” the creation of the institute in the current economic climate.