Research: Budget October 2024
The question
To ask the Secretary of State for Science, Innovation and Technology, what discussions he has had with the Chancellor of the Exchequer on the potential impact of the Autumn Budget 2024 on UK R&D.
Answered by Feryal Clark
The Secretary of State has regular discussions with the Chancellor on a range of issues. In the Autumn Budget, the Chancellor announced that total HMG investment in R&D is rising to a record allocation of £20.4bn in 2025/26, with DSIT's R&D budget rising to £13.9bn, a real terms increase of 8.5%. This investment increases Core Research funding to at least £6.1bn, protecting funding for the UK's world leading research base in real terms, and fully funds the UK's association with Horizon Europe. Further details on how this funding will be allocated will be set out in due course.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →