Leading research organisations call on Government to meet £22bn R&D commitment

13 October 2021

The Russell Group has today (13 October) joined over 30 leading research, science and technology organisations in calling for the Government to use the upcoming Spending Review to deliver the commitment made in the 2020 Budget to increase public investment in research and development (R&D) to £22bn by 2024/25, in an open letter to the Chancellor of the Exchequer.

The full letter and list of signatories can be found below. Commenting, Dr Tim Bradshaw, Chief Executive of the Russell Group, said:

“More than ever, the UK's future will depend on ideas and talent to drive economic growth while tackling transformational issues such as how to deliver net zero. But this provides a huge opportunity for the UK to draw on its strengths in science, research and innovation, building on the Government's ambition to secure the UK's status as a science superpower.

“By pledging to increase public funding for R&D to £22bn a year by 2024/25, the Government has recognised the importance of research in delivering a strong, sustainable recovery. Now it is vital it provides a clear plan on how this will be realised so businesses also have the certainty they need to unlock crucial private sector investment.

“By boosting public spending on R&D now, the Government can ensure research and innovation is translated into tangible benefits for citizens across the country and for the economy – supporting rapid economic growth and productivity gains, creating high-value jobs and attracting much needed external investment into towns and cities across the country."

Open Letter to the Chancellor of the Exchequer on Investing in R&D

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