Research: Finance

(asked on 19th July 2021) - View Source

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

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will publish a long-term Research and Development funding plan setting out how the Government will meet its commitment of spending £22 billion per year by 2024; and what steps his Department is taking to support science organisations as part of that plan.


Answered by
Amanda Solloway Portrait
Amanda Solloway
Government Whip, Lord Commissioner of HM Treasury
This question was answered on 22nd July 2021

Last year, we published our ambitious Research and Development Roadmap, setting out our long-term vision for the R&D system, including cutting unnecessary bureaucracy, embracing diversity in the R&D workforce, levelling up across the UK, embracing innovation, and boosting international collaboration.

This year we are investing £14.9 billion in research and development in 2021/22 across government, putting UK Government R&D spending at its highest level in four decades.

The next Spending Review will set out plans for future R&D funding. Our investment in R&D will support our Roadmap commitments and helps consolidate our position as a science superpower, as we build towards increasing public expenditure on R&D to £22bn and delivering on our target to increase total UK R&D investment to 2.4% of GDP by 2027.

Reticulating Splines