Government reveals plans for record R&D budget
The UK government has revealed how the £39.8bn R&D budget for 2022-2025 will be allocated across the Department for Business, Energy and Industrial Strategy’s partner organisations.
R&D spending is set to increase by £5bn to £20bn per annum by 2024-2025, a 33 per cent increase in spending over the current parliament by 2024-2025.
The allocations aim to deliver on the ambitions set out in the government’s Innovation Strategy, with investments supporting a commitment of ensuring total R&D spending reaches 2.4 per cent of GDP by 2027.
Investments will contribute to the new cross-government approach on research and development, BEIS said, aiming to ‘deliver strategic advantage in science and technology, work alongside industry to leverage private investment and deliver prosperity, security and resilience’.
This includes full funding for EU programmes, for which £6.8bn has been allocated to support the UK’s association with Horizon Europe, Euratom Research & Training, and Fusion for Energy. If the UK is unable to associate to Horizon Europe, funding allocated to Horizon association will go to UK government R&D programmes, including those to support new international partnerships.
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