- 20 November 2017
The UK will see an increase in research and development investment to 2.4% of GDP by 2027, the PM announced on Monday 20th November.
Dr Mark Downs FRSB, chief executive of the Royal Society of Biology, responded to the announcement: “We welcome the Government’s signal of support for a successful and vibrant sector in need of investment to grow and deliver its full potential to the UK.
We also welcome the clear acknowledgement from the Secretary of State that as well as nurturing talent here we must be able to attract international talent in order to thrive. Creating the conditions for this are essential if monetary investment is to deliver returns.”
This investment will see public R&D spending increase as a share of GDP for each of the next five years and bring investment to levels last seen in the 1980's.
It builds on the commitment made last year to raise R&D spending from £9bn in 2015-16 to £12bn in 2020-21.