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<p>As part of this Spending Review Period (financial years 2021-22 to 2024-25) the
department established a ringfence of £6.6 billion for R&D across the four years.
In the first three years of this Spending Review period the department exceeded its
targets and spent over £6 billion. Whilst forecasts for R&D spend for this financial
year are subject to change, we ultimately expect to comfortably exceed the £6.6 billion
ringfenced figure by the end of this financial year.</p><p> </p><p>Furthermore, as
part of the announcement to uplift defence spending to 2.5% GDP by 2030, we are making
a new commitment to ring-fence at least 5% of the defence budget for research and
development from 2025-26 onwards, with an increased focus on dual use technologies
or where there can be significant spillover effects from military to civil R&D.</p><p>
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