Research: Finance
The question
To ask the Secretary of State for Science, Innovation and Technology, whether he has made an assessment of the potential merits of increasing spending on research and development.
Answered by Feryal Clark
Research and development (R&D) is key to our agenda to boost growth and improve lives by maximising the potential of science and technology. Investment in R&D underpins the innovations that help the UK boost productivity and create high-paid jobs. UK public R&D has been estimated to have an average rate of return of 40% 6 years after the investment is made. Each pound invested also leverages on average £2 of private investment in the long run.
DSIT's R&D budget has risen to £13.9bn in 2025/26, an increase of 8.5% in real terms compared to its 2024/25 budget. R&D funding beyond 2025/26 is subject to the next phase of the Spending Review, which will conclude in June.
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