PARLIAMENTARY WRITTEN QUESTION
(20 November 2024)

Increasing productivity right across the UK is fundamental to our mission to kickstart economic growth. We know businesses grow faster because of science and innovation. In the 6 years after receiving their first R&D grant funding, the average business increases employment by 21% and turnover by 23%. The Government will continue to support regional growth through the industrial strategy. As set out in the Industrial Strategy Green Paper, research, development, and innovation are essential to developing the UK’s growth-driving sectors. The Government will explore how to build on existing place-based initiatives to support high-potential clusters.