To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to ensure that science research is fully funded from January 2022.
Answered on
28 September 2021
Future funding decisions are subject to the outcome of the Spending Review which will set budgets from 2022/23 to 2024/25. The Spending Review process will conclude on 27 October. We are working with HM Treasury to agree an ambitious R&D package. In announcing the Spending Review, my Rt. Hon. Friend Mr Chancellor of the Exchequer reiterated the Government’s commitment to cement the UK’s position as a science superpower.
The Government is already investing £14.9bn in R&D across government in 2021/22, putting public investment at its highest level for four decades. We are committed to achieving our target of total UK investment in R&D increasing to 2.4% of GDP by 2027.