UK invests in R&D

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UK firms increased their spending on research and development by six per cent in 2007, according to latest figures from the Department for Innovation, Universities and Skills.

UK firms increased their spending on research and development (R&D) by six per cent in 2007, according to the latest figures from the Department for Innovation, Universities and Skills (DIUS).

The annual report, which was published in collaboration with the Department for Business, Enterprise and Regulatory Reform (BERR), took data on spending from the 850 UK companies most active in R&D and the 1400 most active companies globally.

The results showed that the UK’s 88 largest R&D investors grew their research capacities by 10.3 per cent over the previous year, with global competitors averaging a 9.5 per cent increase.

Science and innovation minister, Lord Drayson, said: ‘The pleasing growth in R&D investment by UK firms for 2007 was achieved in largely benign economic conditions before the impact of the global economic downturn.

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