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Written question asked by Lord Freyberg (Crossbench) on Tuesday, 16 July 2019, in the House of Lords. It was due for an answer on Tuesday, 30 July 2019. It was answered by Lord Henley (Conservative) on Tuesday, 23 July 2019 on behalf of the Department for Business, Energy and Industrial Strategy.

Medicine: Research

Question

To ask Her Majesty's Government, what proportion of the investment in research and development, intended to reach 2.4 per cent of GDP by 2027, they expect to spend on health each year.

Answer

Through the Industrial Strategy we have committed to reaching the target of 2.4% of GDP investment in R&D by 2027, and 3% in the longer term. Achieving this ambition would provide a strong platform to transform the economy by enabling the development of new technologies, industries and products that bring new growth, good jobs, and a wide range of social improvements.

Reaching the 2.4% target will require concerted effort both for government and for business. Public investment will play an essential role in achieving the target, but this will also require a commitment from the private sector to invest substantially. Health-related Research and Development will be a vital element of our plan for reaching the ambition. We will publish a Roadmap for achieving the ambition, following the Spending Review. The Roadmap will explore the full range of policy measures that could encourage additional private investment in R&D.

Secondary information

Type
Written question
Reference
HL17209
Session
2017-19
Grouped for answer
Yes
Subjects
Finance Medicine Research
Contains statistics
Yes
Link
View this Written question on www.parliament.uk