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Department: Department for Business, Energy and Industrial Strategy

Gavin Newlands

Main Page: Gavin Newlands (Scottish National Party - Paisley and Renfrewshire North)

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Gavin Newlands Excerpts

European Council
Tuesday 14th March 2017

(7 years, 8 months ago)

Commons Chamber
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Lord Johnson of Marylebone Portrait Joseph Johnson
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I certainly can. Through our industrial strategy, we are backing Britain’s innovators with the biggest investment in science and technology since 1979 and a new industrial strategy challenge fund to bring cutting-edge ideas out of the lab and into the wider economy.

Gavin Newlands Portrait Gavin Newlands (Paisley and Renfrewshire North) (SNP)
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T10. A recent Resolution Foundation report stated that one in three UK businesses admitted to under-investing over the last five years. What measures will the UK Government take to turn that around?

Lord Johnson of Marylebone Portrait Joseph Johnson
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Yes, this country does recognise that it has been under-investing in research and development, and that is why at the autumn statement and in the Budget we have made the biggest investment in R and D for more than 40 years. Public investment in R and D helps to bring in private sector investment at the rate of about £1.36 for every £1 of public investment.

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