Industry: Investment

Department for Business, Energy and Industrial Strategy written question – answered on 5th December 2017.

Alert me about debates like this

Photo of Chi Onwurah Chi Onwurah Shadow Minister (Department for Business, Energy and Industrial Strategy) (Industrial Strategy)

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to page 13 of the Government's paper, Industrial Strategy: Building a Britain fit for the future, whether the biggest ever increase in public investment is measured in percentage or absolute terms; and what comparative levels of investment have been in each of the last 30 years.

Photo of Claire Perry Claire Perry The Minister of State, Department for Business, Energy and Industrial Strategy

Over the five years from 2016/17 to 2021/22, public funding of R&D is set to increase from around £9.5bn to around £12.5bn in cash terms. Correcting for inflation, this is an increase of around £2.1bn in 2015 prices. This will be the largest five-year increase since records began, in absolute terms.

Regarding comparative levels, I refer the hon. Member to the following table:

Annual level of public funding of General Expenditure of R&D, £m in 2015 prices

Annual public funding of GERD

1981

8740

1982

[Data not available]

1983

8612

1984

[Data not available]

1985

7648

1986

7581

1987

7412

1988

6996

1989

7306

1990

7099

1991

6914

1992

6617

1993

6663

1994

6975

1995

6967

1996

6814

1997

6587

1998

6836

1999

7173

2000

7431

2001

7253

2002

7474

2003

8221

2004

8520

2005

8849

2006

8894

2007

8716

2008

8880

2009

9371

2010

9272

2011

9096

2012

8446

2013

9372

2014

9314

2015

9183

Source: ONS GERD time series data. Publically-funded GERD includes Government, Research Councils and Higher Education

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.