Innovation and Research: Finance

(asked on 30th October 2020) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the upcoming one year Spending Review will provide funding for (a) a UK replacement for Horizon Europe, (b) the new Office for Talent, (c) the new Innovation Expert Group, (d) schemes to promote diversity within STEM and (e) implementing the findings from the R&D tax credits consultation; and what the timeframe is for publishing long term funding strategies for those projects.


Answered by
Amanda Solloway Portrait
Amanda Solloway
Government Whip, Lord Commissioner of HM Treasury
This question was answered on 4th November 2020

At the 2020 Budget, my Rt. Hon. Friend Mr Chancellor of the Exchequer announced the Government’s ambitious commitment to increase public spending in research and development to £22 billion by 24/25, putting the UK on track to reach 2.4% of GDP being spent on research and development across the UK economy by 2027.

In order to prioritise the response to Covid-19, and our focus on supporting jobs, the Chancellor and my Rt. Hon. Friend the Prime Minister have decided to conduct a one-year Spending Review, setting departments’ resource and capital budgets for 2021-22, and Devolved Administrations’ block grants for the same period. This Spending Review will be delivered on 25th November.

Reticulating Splines