University-Business Collaboration

01 December 2014

Commenting on the BIS Select Committee’s report on University-Business Collaboration calling for 3% of GDP to be spent on R&D by 2020, Dr Wendy Piatt, Director General of the Russell Group of Universities, said:

“The Committee is right to challenge the Government to bring spending on research and development (R&D) up to 3% of GDP by 2020. The Government's ongoing support for science is appreciated, but the research budget is now degrading with inflation and the UK's investment in R&D continues to lag behind that of other developed countries.

“We welcome the Committee’s call for more money for Catapult Centres and the Higher Education Innovation Fund. However, as the Committee rightly notes, any further funding for innovation should come in addition to, not at the expense of, funding for research. Funding for high-quality research is vital to produce innovation in the UK."

Notes to Editors

1. The UK’s spending on research and development as a proportion of GDP fell from 1.78% in 2011 to 1.73% in 2012. This is well below the EU average of 1.98% in 2012 (up from 1.95% in 2011), the spending of 1.98% by China (up from 1.84% in 2011) and the US investment of 2.79% (up from 2.76% in 2011). Source
2. Read our written submission to the Select Committee's enquiry and watch the evidence hearing featuring Prof Sir Keith O'Nions, formerly President of Imperial College London, and Dr Tim Bradshaw, Russell Group Principal Head of Policy here.