Answer from Hansard

The Secretary of State for Science, Innovation and Technology (Liz Kendall)

Our world-leading universities and the research that they do are crucial to economic growth. On average, every £1 of public research and development investment generates £8 in economic benefits for the UK over the longer term. That is why this Government are investing £86 billion over the spending review period—the largest ever investment in R&D made by any Government—to support our best and brightest researchers, boost jobs and growth, and back the long-term success of the UK.