The Department for Science, Innovation and Technology has today (Thursday 30 October) confirmed long-term R&D funding for the UK’s research agencies and bodies, with investment for the bodies that “are making science and tech breakthroughs that improve lives and grow our economy”.
DSIT states that these allocations give visibility and clarity on the development of DSIT’s plans for R&D budgets, with the Department’s overall R&D budget growing in real terms.
Their new analysis, published today, shows the value of public investment in R&D to the UK – with every £1 spent delivering £8 in net economic benefits over the long-term. Crowding in private investment is a key part of this, with every £1 of public money invested in R&D crowding in a further £2 in private investment, on average.
Read further details here: https://www.gov.uk/government/news/55-billion-rd-funding-boost-to-unlock-uk-breakthroughs-from-health-to-clean-energy
