To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the upcoming one year Spending Review will provide funding for (a) a UK replacement for Horizon Europe, (b) the new Office for Talent, (c) the new Innovation Expert Group, (d) schemes to promote diversity within STEM and (e) implementing the findings from the R&D tax credits consultation; and what the timeframe is for publishing long term funding strategies for those projects.
4 November 2020
At the 2020 Budget, my Rt. Hon. Friend Mr Chancellor of the Exchequer announced the Government’s ambitious commitment to increase public spending in research and development to £22 billion by 24/25, putting the UK on track to reach 2.4% of GDP being spent on research and development across the UK economy by 2027.
In order to prioritise the response to Covid-19, and our focus on supporting jobs, the Chancellor and my Rt. Hon. Friend the Prime Minister have decided to conduct a one-year Spending Review, setting departments’ resource and capital budgets for 2021-22, and Devolved Administrations’ block grants for the same period. This Spending Review will be delivered on 25th November.