Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what proportion of the investment in research and development, intended to reach 2.4 per cent of GDP by 2027, they expect to come from private sources each year.

Through the Industrial Strategy we have committed to reaching the target of 2.4% of GDP investment in R&D by 2027, and 3% in the longer term. Achieving this ambition would provide a strong platform to transform the economy by enabling the development of new technologies, industries and products that bring new growth, good jobs, and a wide range of social improvements.

Reaching the 2.4% target will require concerted effort both for government and for business. Public investment will play an essential role in achieving the target, but this will also require a commitment from the private sector to invest substantially. Health-related Research and Development will be a vital element of our plan for reaching the ambition. We will publish a Roadmap for achieving the ambition, following the Spending Review. The Roadmap will explore the full range of policy measures that could encourage additional private investment in R&D.