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Research: Finance

Business, Innovation and Skills written question – answered on 10th July 2013.

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Photo of Bob Russell Bob Russell Liberal Democrat, Colchester

To ask the Secretary of State for Business, Innovation and Skills if he will make it his policy to raise public spending on research and development to 0.7 per cent of GDP, in line with the current EU average, by 2020; and if he will make a statement.

Photo of David Willetts David Willetts Minister of State (Universities and Science)

In difficult fiscal circumstances the Government has maintained the ring-fenced £4.6 billion science and research budget in the recent spending review; increased the Technology Strategy Board resource budget by £185 million in 2015-16; and increased the science capital budget in real terms to £1.1 billion in 2015-16, to rise in line with inflation to 2021.

Rather than focus on input targets, Government is focused on delivering the outcomes for the economy and society of a world-class science and research base.

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