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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to increase research and development spending.

The Government is providing the fastest ever sustained uplift in R&D funding, reaching £20 billion per annum by the end of the SR period – £5 billion more than 2021/22. We remain committed to the target of UK economy-wide R&D investment reaching 2.4% of GDP by 2027.

As the custodian of the R&D system, BEIS received its largest ever R&D budget at SR21 with £39.8bn over the SR period. We have now set out how funding will be allocated across our partner organisations over the next three years. Details of funding for specific programmes will be agreed by BEIS and partner organisations and set out in due course.