Question

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the effect of increasing spending on the science capital commitment on UK productivity.

This Government recognises the value of science and innovation as a driver of economic success. We protected the science ring-fence over the last Parliament and are investing £6.9 billion in science capital from this year to 2021. There is clear and robust evidence of a link between R&D investment and national productivity, including in OECD Economic Working Paper 843 (2011): http://www.oecd-ilibrary.org/docserver/download/5kghwnhxwkhj.pdf?expires=1447868224&id=id&accname=guest&checksum=FD50F59A6AFEEC34AE58B844317965CE