Should research funding be linked to impact?

The article deals with the proposed Research Excellence Framework (REF) of the Higher Education Funding Council of England. Under the proposed REF, 60% of funding for research institution will be allocated according to outputs, 25% allocated according to impact and 15% allocated according to how well the institution's environment fosters a continuing flow of excellent research. It notes on the statement of a university lecturer that the REF is an attack on high-risk, curiosity-driven research. The advantages and disadvantages of the REF are noted.