Download CaSE’s short written submission to the House of Lords Science and Technology Committee inquiry on Science Research Funding in Universities

CaSE’s Executive Director Dr Sarah Main also gave oral evidence to the Committee, which can be viewed here.

The 2.4% target

The Government’s target to invest 2.4% of GDP in R&D by 2027 and 3% in the long term is a welcome ambition. We commend the Government for setting out a long-term ambition for increasing investment in science and innovation. It is in line with calls we and others have made so that the UK can meet the economic, health, security and environmental challenges
facing society.

However, while the Government has set out the 2.4% target it hasn’t yet set out a roadmap for how the target will be met. A clear vision and roadmap will be essential both to win support from across government, business and the public, and to steer decision making towards the target. A long-term plan gives confidence for long-term R&D investment decisions by the private sector and for long-term partnerships between the public and private sector. Every country that has successfully raised R&D intensity by a similar amount has done so through raising both public and private investment.

Our members have told us that leadership and long-term R&D investment from Government enables them to plan and
gives industry confidence to keep on investing in R&D. Public investment also drives increased private investment, with a time-lag.