Company Accounts: Research

Department for Business, Energy and Industrial Strategy written question – answered on 11th April 2019.

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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, whether he has made an assessment of the potential merits of requiring companies to publish reports on on their R&D spend.

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)

The ONS publish annual R&D statistics, including Business Enterprise R&D (BERD). BERD statistics are based on a business survey and include analysis of regional and sectoral trends. We use the ONS statistics to track progress towards our commitment of increasing overall investment in R&D to 2.4% of GDP by 2027 and 3% in the longer-term.

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