To ask the Secretary of State for Business, Energy and Industrial Strategy, what discussions he has had with UK Research and Innovation on relaxing public funding match-funding requirements to allow public funding to cover 100 per cent of the costs of public and private sector research and development during the covid-19 outbreak.
9 June 2020
All sources of R&D funding of are of great importance to UK R&D. Every £1 of public funding in R&D leverages around £1.40 of additional investment from the private sector. The UK is at the forefront of producing new ideas and has the capacity to translate these into social and economic benefit to the UK.
We are increasing spending on R&D investment to £22 billion per year by 2024/25. This is the biggest ever increase in public funding of R&D. We intend to develop a comprehensive R&D plan which will draw on work undertaken through the Industrial Strategy, and we will work closely with stakeholders in developing this.
My Rt. Hon. Friend the Secretary of State has regular discussions with UKRI, on a range of issues, including public and private sector research and development and COVID-19.