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<p>This Government wants the UK to be the go-to place for researchers, innovators
and investors across the world. We have made a landmark commitment to work with industry
to boost spending on Research and Development (R&D) to 2.4% of gross domestic
product (GDP) by 2027. The work could increase public and private R&D investment
by as much as £80 billion over the next 10 years. This will start with government
making an extra investment of £2.3 billion in 2021/22, raising total public investment
in R&D to £12.5 billion that year alone.</p><p> </p><p>As part of our ambition
for a new deep and special partnership with the EU, recognising our shared interest
in maintaining and strengthening research collaboration, the UK will seek an agreement
that promotes science and innovation across Europe now and in the future. This includes
continued collaboration in vital sectors such as life sciences that, through programmes
such as the Innovative Medicines Initiative, help deliver better care for patients
in the UK, member states and around the world.</p><p> </p><p>While we remain a member
of the EU, UK businesses and universities should continue to bid for competitive EU
funds, and we will work with the Commission to ensure payment when funds are awarded.
The Government will underwrite the payment of such awards, even when specific projects
continue beyond the UK’s departure from the EU. This includes awards that are bid
for before exit that are successful after exit.</p>
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