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<p>The 2015 report by Economic Insight was considered during the 2015 Spending Review,
and before more recent announcements related to the National Productivity Investment
Fund, together with other evidence and analysis.</p><p> </p><p>The Government has
a long term plan for Science, Research and Innovation. As a first step to reaching
the 2.4% target, public R&D spending has been raised from around £9.5bn in 2016-17
to around £12.5bn in 2021-22. This is a total increase of £7bn over 5 years, and the
biggest increase in public funding of R&D on record.</p><p> </p><p>Public spending
in R&D for years beyond current budgets will be considered in the next Spending
Review.</p>
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