UK Government R&D Grant Funding at the Highest Level in Four Decades

UK Government R&D Grant Funding Totalled £14.9 Billion in 2021/22.

Scientists and researchers will get an extra £250 million grant funding this year to support pioneering research and drive the UK’s ambitions to become a science superpower.

As a result, UK scientists will have access to more public funding than ever before. This takes total Government investment in R&D to £14.9 billion in 2021/22 and follows four years of significant growth in R&D funding, including a boost of more than £1.5 billion in 2020/21.

It will mean UK Government R&D spending is now at its highest level in four decades.

What will the grant funding support?

This investment reinforces the Government’s commitment to putting research and development at the heart of plans to build back better from the pandemic. It will support vital and pioneering research while enabling the UK’s brilliant scientists, researchers and businesses to access and benefit from the world’s largest collaborative research programme, Horizon Europe – worth around €95 billion over the next decade.

Why is the Government putting so much money into R&D?

The UK government has a target of 2.4% of GDP being spent on R&D across the UK economy by 2027. They hope to increase the budget for research and development to £22 billion by 2027.

Last month, the UK government announced a new Advanced Research and Innovation Agency (ARIA). This is backed with £800 million by 2024/25 and is tasked with funding high-risk, high-payoff research. It’s hoped that the research will offer the chance of high rewards supporting ground-breaking discoveries that could transform lives.

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