"The Labour government has unveiled a record £55 billion investment in research and development (R&D), marking the largest long-term commitment to science and innovation in British history. The announcement underscores Prime Minister Keir Starmer's pledge to transform the UK into a "science and technology superpower" by the end of the decade. The plan, confirmed by the Department of Science, Innovation and Technology (DSIT), will channel billions into Britain's leading research agencies and innovation bodies through to 2030."
"The investment includes: * £38 billion for UK Research and Innovation (UKRI), the national funding agency for science. * £1.4 billion for the Met Office, supporting climate and meteorological research. * £900 million for the UK's national academies, including the Royal Society and Royal Academy of Engineering. * A near-doubling of the Advanced Research and Invention Agency's (ARIA) annual budget - from £220 million to £400 million by 2030 - to fund breakthrough technologies with commercial potential."
"Announcing the package at IBM's London headquarters, Science and Technology Secretary Liz Kendall said the funding was "absolutely critical to growing the economy and creating more good jobs". "Every pound of public investment in R&D generates twice as much from the private sector," Kendall said. "This £55 billion commitment will fuel innovation in AI, clean energy and advanced manufacturing - and help solve some of the biggest challenges we face.""
The Labour government will invest a record £55 billion in research and development through to 2030 to accelerate innovation and economic growth. DSIT will channel funding to leading research agencies and innovation bodies as part of the Modern Industrial Strategy to boost productivity, create high-value jobs and strengthen public-private partnerships in emerging technologies. The package allocates £38bn to UKRI, £1.4bn to the Met Office, £900m to national academies, and raises ARIA's budget to £400m by 2030 to fund breakthrough, commercially promising technologies. The plan aims to leverage private investment and drive advances in AI, clean energy and advanced manufacturing.
Read at Business Matters
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