Included in the announcement are commitments of £86bn spent on R&D over the next four years, with at least £22.5bn spent a year by 2029/30.
It is pleasing to see the Government continue to recognise UK R&D as a driving force behind economic growth. Based on OBR forecasts for inflation, the spending plans announced today would appear to be broadly flat in real terms. While not the ambitious settlement we called for, in these difficult fiscal circumstances it is positive that the R&D budget has been protected. However, the detail is important, and we will need to wait for the full spending review announcement on Wednesday before we can offer a considered analysis.
Dr Alicia Greated
Executive Director, CaSE
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