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<p>Through the Industrial Strategy we have committed to reaching the target of 2.4%
of GDP investment in R&D by 2027, and 3% in the longer term. Achieving this ambition
would provide a strong platform to transform the economy by enabling the development
of new technologies, industries and products that bring new growth, good jobs, and
a wide range of social improvements.</p><p> </p><p>Reaching the 2.4% target will require
concerted effort both for government and for business. Public investment will play
an essential role in achieving the target, but this will also require a commitment
from the private sector to invest substantially. Health-related Research and Development
will be a vital element of our plan for reaching the ambition. We will publish a Roadmap
for achieving the ambition, following the Spending Review. The Roadmap will explore
the full range of policy measures that could encourage additional private investment
in R&D.</p>
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