Investing in UK Research and Development
The Government has committed to meet a target of 2.4% of GDP invested in UK R&D within ten years, and a longer-term goal of 3%. The Royal Society outlines the current investment landscape, why the 3% target is important for the UK and factors that should be considered to deliver it.
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There is broad consensus across the political spectrum that investing in research and innovation now will deliver economic growth, societal benefits and position the UK at the forefront of the industries of the future.
The Prime Minister has stated that his ambition is for the UK to "become a scientific superpower", to "tackle this country’s unresolved challenges" and to "level up". Research and innovation are central to achieving these ambitions and the UK government has made welcome commitments to increase investment in research and innovation.
Here we outline the current investment landscape, progress against the government’s targets, why a longer-term target of 3% GDP invested in R&D is important and factors that should be considered to deliver it.
In 2019, £38.5 billion was invested in R&D in the UK (up from £37.1 billion in 2018) - Source: ONS
Here we outline the current investment landscape, why the 3% target is important for the UK and factors that should be considered to deliver it.
*Please note: This page was updated on 10 February 2022.