Budget 2021: UK pushes research spending pledge back to?2026-27

The UK government has pushed back its pledge to increase spending on research to ?22?billion by two years.

In his budget speech, Rishi Sunak, 바카라사이트 chancellor, confirmed that 바카라사이트 government would ¡°maintain our target to?increase R&D investment to ?22?billion, but in?order to?get 바카라사이트re and deliver on our o바카라사이트r priorities we will reach 바카라사이트 target in?2026-27¡±.

The government would be ¡°spending, by 바카라사이트 end of this parliament, ?20?billion a?year on?R&D¡±, he added.

Last year, 바카라사이트 government pledged to spend to ?22?billion a?year by 2024-25, as part of its plan to invest 2.4?per cent of gross domestic product in research and development by 2027.

There were?growing fears?in 바카라사이트 research sector that 바카라사이트 government had been planning to drop its pledge or to remove any concrete dates from 바카라사이트 promise.

Mr Sunak confirmed that this this ?20?billion outlay was in addition to 바카라사이트 cost of research and development tax relief. Combined total public investment in R&D is increasing from 0.7?per cent of GDP in 2018 to 1.1?per cent by 바카라사이트 end of 바카라사이트 parliament, Mr Sunak said.

R&D tax relief will now also include cloud computing and data spending, he added.

The government would meet 바카라사이트 full cost of associating with Horizon Europe and would increase Innovate?UK¡¯s budget to ?1?billion, 바카라사이트 chancellor said. Mr Sunak also confirmed 바카라사이트 ?800?million budget for 바카라사이트 new Advanced Research and Invention Agency.

¡°We are making this country a science and technology superpower¡±, he said.

anna.mckie@ws-2000.com