Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to Budget 2020, what proportion of the £22 billion investment in R&D he plans to allocate to (a) performing and (b) funding R&D.

The Government is committed to supporting the UK’s leadership in science and innovation, and set out an ambition to increase economy-wide investment in R&D to 2.4% of GDP by 2027.

At the 2020 Budget, the Government announced that it would increase public investment in R&D to £22bn by 2024-25, the largest ever increase in support for R&D. This will support innovators and researchers across the UK to develop their brilliant ideas, cutting edge technologies and ground breaking research.

The majority of this uplift will be allocated at the Spending Review, including support for various R&D programmes. The Government will set out further details in due course.