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Cautious welcome for business department’s £39.8bn R&D budget

    

Welcome mixed with fears that inflation will eat into gains, and calls for investment plan

The R&D community has cautiously welcomed the business department’s confirmation of a £39.8 billion R&D budget for 2022-25, as researchers await further detail.

The budget, unveiled on 14 March, includes an allocation of £25bn over the next three years for UK Research and Innovation, with the national research funder’s budget set to reach £8.8bn by 2024-25. The allocation includes £1.1bn in funding for core Innovate UK programmes, an increase of 66 per cent on 2021-22.

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