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1541803

registered interest
date	14/11/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Research: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the UK Research and Development Roadmap, published in July 2020, if he will make an assessment of the potential merits of publishing a plan for funding research and development spending up to 2027.
tabling member constituency	Barnsley Central
tabling member printed	Dan Jarvis
uin	86488
answer	answer is ministerial correction date of answer 17/11/2022 answer text <p>The government publishes plans for funding research and development in multi-year spending reviews. The 2021 Spending Review published plans for the period 2022/23 to 24/25. Future Spending Reviews will cover years beyond that.</p> answering member constituency Salisbury answering member printed John Glen question first answered 17/11/2022 13:56:01 answering member 4051 label Biography information for John Glen
tabling member	4243 label Biography information for Dan Jarvis

1541804

registered interest
date	14/11/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Research: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has made a recent assessment of the potential merits of public sector funding for research and development; and if he will make an assessment of that funding on private sector investment in research and development at all stages of research.
tabling member constituency	Barnsley Central
tabling member printed	Dan Jarvis
uin	86489
answer	answer is ministerial correction date of answer 18/11/2022 answer text <p>BEIS has published research by Oxford Economics on the relationship between public and private funding of research and development (R&amp;D) at which estimated the monetary impact of the long-run leverage rate, suggesting that each £1 of public R&amp;D eventually stimulates between £1.96 and £2.34 of private R&amp;D:</p><p><a href="https://www.gov.uk/government/publications/research-and-development-relationship-between-public-and-private-funding" target="_blank">https://www.gov.uk/government/publications/research-and-development-relationship-between-public-and-private-funding</a>.</p><p> </p><p>Public investment in R&amp;D underpins long-term economic growth, is a vital component in our plan for achieving Net Zero and ensures the long-term defence and security of the UK by keeping us at the forefront of technological capabilities. This is why, at the last Spending Review, the Government announced the largest ever sustained uplift in public R&amp;D spending.</p> answering member constituency Mid Norfolk answering member printed George Freeman question first answered 18/11/2022 09:26:21 answering member 4020 label Biography information for George Freeman previous answer version 35259 answering member constituency Mid Norfolk answering member printed George Freeman answering member 4020 label Biography information for George Freeman
tabling member	4243 label Biography information for Dan Jarvis