Public R&D budget expected to reach almost £13bn this year

CaSE says government has ‘pulled no punches in outlining intention to ramp up investment’

Research funding allocations of £10.36 billion recently published by the business department are a “significant milestone” in the government’s path towards reaching its R&D spending target, according to the Campaign for Science and Engineering.

The campaign expects the total R&D funding to reach nearly 13bn this year, which should set it on course to meeting the overall research spend of 2.4 per cent of GDP by 2024.