Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to support long term R&D innovation (a) for all regions and nations of the UK and (b) to support the industries and jobs of the future.
Looking ahead, this Government is determined to build back better with an ambitious target to raise total investment in research and development to 2.4% of UK GDP by 2027.
Already this year, to forge the UK’s future as a global scientific superpower, the government is investing £14.6bn in research and development in 21-22. This funding will be allocated on a UK-wide basis and will therefore help locations across the UK, by:
As much of this will be allocated competitively, it is difficult to predict beneficiaries, however:
Further information on allocations will be determined in due course.