 |
answer text |
<p>According to the latest business statistics published by the ONS, the UK manufacturing
sector invested £7.6 billion in research and development in 2016, accounting for around
a third of privately funded R&D in the UK that year. In 2017, the sector invested
£28 billion overall – a 46% increase against the level in 2010.</p><p> </p><p>It is
important that UK manufacturing continues to pioneer new and innovative advanced manufacturing
technologies. In August, the Chancellor of the Exchequer invested £536 million in
the High Value Manufacturing Catapult, which, together with the £107 million announced
by the Prime Minister at the July Regional Cabinet, means this Government has invested
£643 million in supporting British manufacturers to conduct R&D and maintain their
position at the cutting-edge of technology.</p><p> </p><p>This is possible because
Government has invested an additional £7 billion in research and innovation since
Autumn 2016 – delivering the biggest increase in public research and development investment
for 40 years and demonstrating clear progress towards the Government’s ambition to
raise investment in R&D in the economy to 2.4% of GDP by 2027</p>
|
|
