UK Research and Innovation: Finance
(asked on 10th January 2023) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask His Majesty's Government what is the annual budget for UK Research and Innovation.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
UKRI’s allocations were published on 30th May 2022. This details UKRI’s budget for the for the financial years 2022-2023 to 2024-2025, as set out below:
UKRI Allocation Plans 2022-2023 to 2024-2025 (£m)
2022-23 | 2022-24 | 2024-25 | Total over SR21 (2022-2023 to 2024-2025 |
7,904 | 8,373 | 8,874 | 25,151 |
At the 2022 Autumn Statement, my Rt Hon. Friend Mr Chancellor of the Exchequer reaffirmed the R&D budget for the 2021 Spending Review period, including a recommitment to increasing public expenditure on R&D to £20 billion per annum by 2024/2025.