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<p>Through our Modern Industrial Strategy we committed to increasing R&D investment
across the economy to 2.4% of GDP by 2027, which would be the highest recorded level,
and 3% in the longer-term.</p><p>We know that there are significant clusters of R&D
strengths in all regions and nations of the UK.</p><p>The Government confirmed in
the 2018 Budget that the Strength in Places Fund is to receive a further £120m to
bring the fund budget for the period up to 2021/22 to £236m. The fund brings together
research organisations, businesses, and local leadership on projects that will lead
to significant economic impact, high-value job creation and regional growth.</p>
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