NCUB praises public R&D investment, calls for more
The National Centre for Universities and Businesses has applauded increases in state R&D investment, pointing out it has outperformed many leading rivals over a 10 year period.
Head of policy and engagement Rosalind Gill was commenting on newly released Office for National Statistics.
These showed government spending on research and development increased by 1.9% in real terms between 2022 and 2023, a period that coincided with then-prime minister Rishi Sunak’s term in office.
“Ongoing public investment in research and development is crucial for the UK’s prosperity and advancement,” she commented.
“The data released today highlights the continued efforts of successive governments to enhance the competitiveness of the UK’s publicly-funded R&D, ensuring it drives national benefit and progress."
This is a positive signal of the UK's long-term commitment to boosting public R&D expenditure, which is critical to driving long-term economic growth.
Long term, she added, the growth in public R&D investment relative to other countries offered “an encouraging sign” that the UK was strengthening competitiveness in this area following years of underinvestment.
Between 2012 to 2023, UK public R&D rose 30% in real terms, stated Gill, outstripping Canada (4%), the US (7%), and Japan (10%). Only South Korea with a 72% increase exceeded Britain.
However, Gill warned that both public and private sector R&D investment trailed key global competitors.
In order to combat this, the government needed to take further action in the upcoming Spending Review to continue to support innovation-driven growth, she insisted.
Pic: thisisengineering
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