Research: Private Sector

Department for Business, Energy and Industrial Strategy written question – answered on 20th February 2019.

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Photo of Matthew Offord Matthew Offord Conservative, Hendon

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has a strategy to encourage the private sector to invest more in research and development.

Photo of Chris Skidmore Chris Skidmore Vice-Chair, Conservative Party, Minister of State (Department for Business, Energy and Industrial Strategy) (Universities and Science) (Joint with the Department for Education)

Through our Industrial Strategy we have an ambition to increase total R&D investment to 2.4% of GDP by 2027 and 3% in the longer term. We are working with UK Research and Innovation and other key partners to develop a roadmap that sets out how Government and the private sector will work together to achieve this.

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