But official figures reinforce expectations that UK is spending 3 per cent GDP on R&D
Figures released today showing that business investment in research and development in the UK fell slightly in real terms between 2021 and 2022 have been branded as “worrying”.
On 27 February, the Office for National Statistics (ONS) released data showing that while spending on R&D by UK businesses hit £49.9 billion in 2022, a 6.4 per cent increase in cash terms compared with 2021, after controlling for inflation this represented a fall of 0.4 per cent.
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