Written Question·Department for Science, Innovation and Technology·UIN 29744

Research: Finance

Tabled: 6 February 2025

Answered: 24 February 2025

Question

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

Feryal Clark

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...

ⓘ

This is an extract from the Parliament API. Search the full answer on Parliament.uk (UIN 29744) →