皇冠体育app

皇冠体育app largest ever research and development budget, worth 拢39.8 billion, has been allocated across the Department for Business, Energy and Industrial Strategy鈥檚 partner organisations, the government has confirmed today.

Driving forward the government鈥檚 ambitions as a science superpower, the Spending Review committed record levels of investment in the UK鈥檚 world-leading research base over the next 3 years, with R&D spending set to increase by 拢5 billion to 拢20 billion per annum by 2024-2025 - a 33% increase in spending over the current parliament by 2024-2025.

皇冠体育app allocations will allow the government to deliver on the ambitions set out in the Innovation Strategy, with these investments supporting our commitment to ensure total R&D spending reaches 2.4% of GDP by 2027.

皇冠体育appse investments will contribute to the new cross-government approach on research and development, helping to deliver strategic advantage in science and technology, work alongside industry to leverage private investment, and deliver prosperity, security and resilience this century.

In turn, the investment will support priorities that are key to the UK鈥檚 prosperity, from tackling climate change to levelling up opportunities across the country, enabling investment in new technologies from clean tech to AI, where the UK has a strong competitive advantage globally and industrial strength at home.

Business Secretary Kwasi Kwarteng said:

For too long, R&D spending in the UK has trailed behind our neighbours - and in this country, science and business have existed in separate spheres. I am adamant that this must change. Now is the moment to unleash British science, technology and innovation to rise to the challenges of the 21st century.

My department鈥檚 拢39.8 billion R&D budget 鈥� the largest ever R&D budget committed so far 鈥� will be deployed and specifically targeted to strengthen Britain鈥檚 comparative advantages, supporting the best ideas to become the best commercial innovations, and securing the UK鈥檚 position as a science superpower.

This includes full funding for EU programmes, for which 拢6.8 billion has been allocated to support the UK鈥檚 association with Horizon Europe, Euratom Research & Training, and Fusion for Energy. If the UK is unable to associate to Horizon Europe, the funding allocated to Horizon association will go to UK government R&D programmes, including those to support new international partnerships.

A significant proportion of the budget has been allocated to UK Research & Innovation (UKRI), which will receive over 拢25 billion across the next 3 years, reaching over 拢8.8 billion in 2024-2025, its highest ever level and over 拢1 billion more than in 2021-2022. This will include an increase in funding for core Innovate UK programmes by 66% to 拢1.1 billion in 2024-2025, helping connect companies to the capital, skills and connections they need to innovate and grow.

皇冠体育app UK Space Agency鈥檚 budget will also grow to over 拢600 million by 2024-2025, recognising the fact that our world-leading space sector adds nearly 拢16 billion to UK GDP while underpinning complementary parts of the economy including finance, logistics and agriculture.

皇冠体育appse allocations follow the government鈥檚 recent commitments made in the Levelling Up White Paper to increase public investment in R&D outside the greater South East by at least a third over the Spending Review period, and for these regions to receive at least 55% of BEIS domestic R&D budget by 2024-2025.

皇冠体育app government鈥檚 ambitious R&D investment plans, combined with our generous R&D tax credits programme, will give businesses the confidence to invest in the field following the pandemic, with research finding that every 拢1 of public expenditure in R&D eventually leverages an average of 拢2 of additional private investment.

Notes to editors

Read the full partner organisation allocations publication.