Statistics on R&D are collected and published annually by the Office of National Statistics. The latest data available shows that in 2015, expenditure on R&D performed in the UK was £31.6 billion \u2013 its highest level on record. This is the equivalent of 1.7% GDP.<\/p>
Government will spend an additional £2bn per year by 2020-21, around a 20% increase in total annual government R&D spending. In addition to public investment in R&D \u2013 each £1 of public expenditure on R&D leverages an average of £1.36 of private investment across the economy \u2013 many other factors encourage private sector investment. These include our competitive tax system and business environment \u2013 the government also increased the rate of business R&D tax credits, providing £2.45bn of relief to 21,000 business in 2014-15 \u2013 and our ongoing commitment to improving the nations skills, including in STEM subjects.<\/p>
Information on international spending is published regularly by the OECD and the European Commission is available online. The government\u2019s increased spending signals that the UK remains committed to being at the forefront of global science, research and innovation.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4097", "label" : {"_value" : "Biography information for Elizabeth Truss"} } , "answeringMemberConstituency" : {"_value" : "South West Norfolk"} , "answeringMemberPrinted" : {"_value" : "Elizabeth Truss"} , "dateOfAnswer" : {"_value" : "2017-09-06", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "6548"} , {"_value" : "6593"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2017-09-06T13:37:48.467Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2017-07-20", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Research: Expenditure"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what proportion of GDP research and development spending accounted for in 2016; and how that proportion compares with average national research and development spending as a proportion of GDP across the (a) OECD, (b) EU and (c) Eurozone.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/178", "label" : {"_value" : "Biography information for John McDonnell"} } , "tablingMemberConstituency" : {"_value" : "Hayes and Harlington"} , "tablingMemberPrinted" : [{"_value" : "John McDonnell"} ], "uin" : "6731"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 1, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }