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Research: Finance

Department for Business, Energy and Industrial Strategy written question – answered on 18th March 2020.

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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, with reference to Budget 2020, whether £22 billion of funding allocated to R&D includes funding to replace EU funding.

Photo of Amanda Solloway Amanda Solloway Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Government is firmly committed to becoming a global science superpower and continuing to collaborate internationally on scientific research.

The Chancellor announced that government investment in R&D will increase to £22bn per annum by 2024/25, putting the UK on track to reach 2.4% of GDP being spent on R&D across the economy by 2027. This increase will include funding for continued participation in EU science programmes or EU replacement schemes. Funding for EU programmes, or for alternatives would be subject to allocations at the Spending Review.

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