Research: Finance
Commons · Question 29744 · Tabled 6 Feb 2025 · Department for Science, Innovation and Technology · Official record
Answered 24 Feb 2025
Question
Asked by Clive Jones
To ask the Secretary of State for Science, Innovation and Technology, what steps he is taking to incentivise R&D investment in the United Kingdom.
Answer
Answered by Feryal Clark, 24 Feb 2025
R&D investment in the UK is 2.8% of GDP, ahead of the OECD average of 2.7%. To further incentivise R&D investment, we are supporting innovators with a record £20.4 billion in R&D spending for 2025/26, which on average leverages £2 of private R...