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Written question asked by Chris Green (Conservative) on Monday, 16 October 2017, in the House of Commons. It was due for an answer on Wednesday, 18 October 2017. It was answered by Lord Johnson of Marylebone (Conservative) on Monday, 23 October 2017 on behalf of the Department for Business, Energy and Industrial Strategy.

Science: Investment

Question

To ask the Secretary of State for Business, Energy and Industrial Strategy, what progress has been made on creating a roadmap for increasing investment in science to three per cent of gross domestic product in the last 12 months.

Answer

This Government has set out its vision to meet R&D investment of 2.4% of GDP within ten years and 3% in the longer-term. We have already increased research and development investment by £4.7 billion over the period 2017-18 to 2020-21. This equates to an extra £2 billion per year by 2020-21 and is an increase of around 20% to total government R&D spending, more than any increase in any parliament since 1979.

We will support business to do more R&D and innovation through our industrial strategy by making sure the wider business environment supports R&D investment and ensuring businesses have access to the skilled people they need to do R&D.

Secondary information

Type
Written question
Reference
108080
Session
2017-19
Subjects
Investment Science
Contains statistics
Yes
Link
View this Written question on www.parliament.uk