Research: Finance

(asked on 31st October 2024) - View Source

Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, what the evidential basis is for the calculation that the increase in his Department’s R&D budget to £13.9 billion is a rise by 8.5% in real terms.


Answered by
Feryal Clark Portrait
Feryal Clark
Parliamentary Under Secretary of State (Department for Science, Innovation and Technology)
This question was answered on 5th November 2024

DSIT’s capital budget in 2024/25 was £13.3bn, with £12.5bn allocated for investment in R&D. As outlined in the Autumn Budget 2024, DSIT’s R&D allocation has risen to £13.9bn in 2025/26, a £1.4bn cash-terms uplift.

Using the latest OBR GDP deflator estimate for 2025/26 of 2.4 per cent (Autumn Budget 2024), this equates to a real-terms increase of 8.5%.

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