UK Government Unveils £55 Billion R&D Boost to Drive Innovation, Economic Growth

The UK government has confirmed a £55 billion investment in research and development (R&D) through 2030, aimed at accelerating scientific breakthroughs, driving economic growth, and improving lives across the country. This funding, part of an £86 billion science and technology package announced in the Spending Review, includes £38 billion allocated to UK Research and Innovation (UKRI) and £1.4 billion for the Met Office to lead climate science. The Department for Science, Innovation and Technology (DSIT) highlighted that every £1 spent on public R&D delivers £8 in net economic benefits and attracts an additional £2 in private investment. The investment supports a wide range of sectors, from health innovations like cancer treatments to clean energy and AI safety, with significant contributions expected to help scale companies and advance technologies such as quantum computing and robotics. DSIT officials emphasized the role of R&D funding in boosting employment and turnover growth for businesses, with funded companies experiencing about 21% employment growth and 23% turnover growth within six years. This long-term commitment aims to maintain the UK’s global leadership in science and innovation while addressing critical challenges and creating high-quality jobs.