糖心Vlog

Budget 2021: UK pushes research spending pledge back to聽2026-27

Chancellor confirms delay to funding increase but says government will maintain commitment to overall target

Published on
October 27, 2021
Last updated
October 27, 2021
Sign at HM Treasury
Source: iStock

The UK government has pushed back its pledge to increase spending on research to 拢22聽billion by two years.

In his budget speech, Rishi Sunak, the chancellor, confirmed that the government would 鈥渕aintain our target to聽increase R&D investment to 拢22聽billion, but in聽order to聽get there and deliver on our other priorities we will reach the target in聽2026-27鈥.

The government would be 鈥渟pending, by the end of this parliament, 拢20聽billion a聽year on聽R&D鈥, he added.

Last year, the government pledged to spend to 拢22聽billion a聽year by 2024-25, as part of its plan to invest 2.4聽per cent of gross domestic product in research and development by 2027.

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There were聽growing fears聽in the research sector that the government had been planning to drop its pledge or to remove any concrete dates from the promise.

Mr Sunak confirmed that this this 拢20聽billion outlay was in addition to the cost of research and development tax relief. Combined total public investment in R&D is increasing from 0.7聽per cent of GDP in 2018 to 1.1聽per cent by the end of the parliament, Mr Sunak said.

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R&D tax relief will now also include cloud computing and data spending, he added.

The government would meet the full cost of associating with Horizon Europe and would increase Innovate聽UK鈥檚 budget to 拢1聽billion, the chancellor said. Mr Sunak also confirmed the 拢800聽million budget for the new Advanced Research and Invention Agency.

鈥淲e are making this country a science and technology superpower鈥, he said.

anna.mckie@timeshighereducation.com

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