Shooting for 2.4%

In 2004, The Science and Innovation Investment Framework (SIIF) set out the ambition to increase R&D to 2.5% of GDP by 2014, this was not accomplished.

A new target was set in the UK’s Industrial Strategy in 2017: to increase total R&D expenditure to 2.4% of GDP by 2027.

Funded Sector Performed
£20.3 billion (55%) BERD £25.0 billion (68%)
£2.7 billion (7%) HERD £8.7 billion (24%)
£7.1 Billion (19%) GovERD £2.5 billion (7%)
£1.9 billion (5%) PNPRD £0.8 billion (2%)
£5.1 billion (14%) Overseas N/A

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