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Scope of the inquiry
In May 2018, UK Research & Innovation (UKRI) published its Strategic Prospectus, which represents “the beginning of the process to develop a detailed Research and Innovation Strategy”. It states that “We will work with Government to develop a plan for meeting this target [to increase the UK’s investment in research and development to 2.4% of GDP by 2027, and in the future to 3%], maximising the impact of public investment in research and innovation, and supporting business and other partners to invest more.” It envisages ongoing work on “what constitutes reasonable balance” of its funding.
Terms of reference: Balance and effectiveness of research and innovation spending
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