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Written question asked by John Healey (Labour) on Tuesday, 18 April 2023, in the House of Commons. It was due for an answer on Thursday, 20 April 2023. It was answered by George Freeman (Conservative) on Wednesday, 26 April 2023 on behalf of the Department for Science, Innovation and Technology.

Research: Finance

Question

To ask the Secretary of State for Science, Innovation and Technology, with reference to the Integrated Review, published in March 2021, whether it remains the Government's policy to spend 2.4 per cent of GDP on R&D by 2027.

Answer

In the 2017 Industrial Strategy, the Government committed to increasing UK economy-wide investment in Research and Development (R&D) to 2.4% of GDP by 2027. Last year, the Office for National Statistics (ONS) updated its R&D data methodology to better represent R&D performed in small businesses and higher education institutions throughout the UK. The updated figures suggest that the UK’s total investment in R&D reached 2.6-2.7% of GDP in 2019 and 2.9-3% in 2020, exceeding our “2.4% by 2027” target.

The Government is now taking time to consider a range of options.

Secondary information

Type
Written question
Reference
181364
Session
2022-23
Related items
Transferred
Yes
Subjects
Finance Research
Link
View this Written question on www.parliament.uk