Business ‘does not feel engaged’ with UK government on R&D

Peers call for “strong emphasis” on getting business committed to research-spending increase

The UK government should engage more with industry and set out specific proposals to increase business investment if it is to meet its R&D spending targets, peers have warned.

In a report, the House of Lords Science and Technology Committee says private sector spending is “vital” to reach the government’s target to increase R&D spending to 2.4 per cent of GDP by 2027.