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<p>Defra has not made any assessment of the financial returns on investment in agricultural
research since 2010 as this is considered too short a time frame to fully evaluate
the impact of research and development. However, research used for the ex-ante evaluation
of the £160 million UK Agri-tech strategy suggests strong returns to UK public research
of the order of 17-60% per year (internal rate of return) for a period of 25 years¹.</p><p>An
ex-post evaluation design and baseline study for the Agri-tech strategy is currently
being developed by Defra, BIS and DfID in conjunction with evaluation experts SQW.
We are also developing a framework for estimating the value for money of new Defra
research and development activities.</p><p>¹ Thirtle and Holding (2003) <em>“Productivity
of UK Agriculture: Causes and Constraints”</em></p><p> </p>
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