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PARLIAMENTARY WRITTEN QUESTION
(20 November 2024)

Question Asked

To ask the Secretary of State for Science, Innovation and Technology, what assessment he has made of the potential impact of research and development on the Government's growth agenda.

Asked by:
Adam Jogee (Labour)

Answer

R&D is fundamental to achieving the Government’s mission of kickstarting economic growth and we know businesses grow faster because of science and innovation. In the 6 years after receiving their first R&D grant funding, employment increases in the average business by 21% and turnover grows by 23%.

That is why the government is investing record amounts into R&D, with total government investment in R&D rising to a record £20.4 billion in 2025/26. This investment also supports our research base and underpins the innovations and technological advancements that will help the UK boost productivity and create high-paid jobs.

We are ensuring R&D supports the government’s five missions, via such vehicles as the R&D Missions Programme. Through this, R&D is at the heart of our agenda to boost growth and improve lives by maximising the potential of science and technology.


Answered by:
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1 January 1970            

        

            
                            
                            
                        

                    


                                    

                    

                        

                    

                

            
                    

                                    

                

                    
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