Enhancing UK prosperity by increasing R&D investment
Summary of contents
This briefing emphasises the need for the UK government to plan for and deliver on its commitment to increase R&D investment from 1.7% to 2.4% of GDP by 2027. This increase is crucial for driving national prosperity, regaining the UK's position as an innovation leader, and catching up with economic competitors.
The document calls for a transparent, long-term public sector investment plan to 2027 and beyond, which would provide stability and attract talent and R&D investment to the UK. It highlights the importance of safeguarding the UK's diverse R&D funding landscape by investing in the entire innovation pipeline, from core capacity to commercialisation, and creating an attractive environment for private sector investment.
The briefing also stresses the need for a skilled workforce to support future economic growth and attract R&D investment. This includes improving recruitment and retention of chemistry teachers, providing more high-quality apprenticeships, supporting technical skills, and ensuring sustainable long-term funding for further education.
Additionally, this briefing advocates for a UK immigration system that ensures easy movement of scientists and their families, which is crucial for attracting international talent and investment.