Bill Gates has called on governments to give billions in research and development funding to prevent future pandemics and 'bio-terrorism'.

The billionaire founder of Microsoft warned that world leaders must prepare for disasters like 'smallpox terror attacks' whatever the cost, and called for the formation of a new billion-dollar World Health Organisation Pandemic Task Force.

He gave the warning and bid for funds during a Policy Exchange thinktank interview with chair of the Health Select Committee and former UK health secretary Jeremy Hunt yesterday. While the research may be expensive, he said that it could also lead to other innovations, such as eradicating flu and the common cold.

He said that countries like the US and the UK must spend 'tens of billions' to fund the research.