Billions more needed to meet political promises on R&D

Conservative and Labour R&D targets would require £14 and £34 billion extra a year, respectively

A leading UK policy think tank has called for a major increase in public R&D spending to reach the ambitious targets set by the two main political parties.

The Institute for Public Policy Research said the need for this “sharp” rise in investment was highlighted by an analysis it conducted, outlining the findings a month ahead of the general election.