Research and Development funding for science and technology in the UK

The Science and Technology Committee commissioned the National Audit Office (NAO) to review Research and Development funding for science and technology in the UK: the NAO’s report is published today.The NAO found that:

  • Between 1995 and 2011, overall annual spending on R&D increased in real terms by 37% (from just under £20 billion to just under £27 billion) and most of this growth was driven by UK businesses. However, spending declined between 2007 and 2010.
  • Between 1995 and 2011, the Government has progressively reduced the amount it spends on undertaking R&D itself through public research institutions but, at the same time, has increased the funding it provides to UK businesses.
  • UK business R&D spending is concentrated in a small number of very large firms, with the pharmaceuticals sector accounting for 28% of total UK business R&D spend. This sector is a key driver of innovation but the UK’s reliance on the sector is also a risk.
  • The UK receives a significant amount of R&D funding from the European Commission: between 2007 and 2013 the UK will have received around £4 billion from the Seventh Framework Programme.

Read the full article from www.parliment.uk by clicking here.