I thank my hon. Friend, who has been a distinguished Minister in the Treasury and the Department for Transport and a champion of innovation. As the Prime Minister has made clear, the Government are completely committed to unlocking this country’s global reach as a science superpower and an innovation nation. That is why we are committed to spending £14.9 billion this year on research and development, and to increasing the total R&D budget to £22 billion and 2.5% of GDP.