Research: Finance:Written question - 195668

Asked by Chi Onwurah
(Newcastle upon Tyne Central)

Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 26 November 2018
Department for Business, Energy and Industrial Strategy
Research: Finance
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the accuracy of the estimate made by the Campaign for Science and Engineering that R&D funding will require an additional £9 billion a year by 2027 to meet the target of 2.4 per cent of GDP investment across the economy by that year.
Answered by: Mr Sam Gyimah
Answered on: 29 November 2018

The Government welcomes the contribution of organisations such as the Campaign for Science and Engineering to the public debate.

The CaSE estimates set out a possible scenario for moving towards the 2.4% R&D ambition; though there are a number of assumptions and uncertainties in any such assessment.

The figures presented by CaSE also highlight the role that increased private sector investment will need to play in meeting this challenge, and we are working with industry on our roadmap to meet the target.

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