To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent assessment he has made of the adequacy of the UK Research and Innovation budget.
19 April 2021
This year’s overall settlement for BEIS follows four years of significant growth in R&D funding, including a boost of more than £1.5 billion in 2020/21 and will mean UK Government R&D spending is now at its highest level in four decades. The Government is committed to increasing public expenditure on R&D to £22 billion.
Despite current fiscal challenges, the November 2020 Spending Review set out the Government’s plan to cement the UK’s status as a global leader in science and innovation by investing £14.9 billion in R&D, with £11.3 billion for BEIS.
Specific funding breakdowns for 2021/22, including UKRI's funding, is subject to our Departmental allocations process, which is progressing at pace. As set out in the Higher Education and Research Act 2017, my Rt. Hon. Friend the Secretary of State takes advice from UKRI’s Board to ensure strategic priorities are met within BEIS’ overall R&D settlement.