The £39.8 billion Research & Development (R&D) Tax Credits budget for 2022-2025 will help deliver the government's Innovation Strategy and drive forward ambitions as a science superpower.
Business Secretary confirms how the £39.8 billion R&D budget for 2022-2025, the largest ever, will be allocated between partner organisations.
Allocations will deliver on the government’s Innovation Strategy, including the ambition to increase total R&D investment to 2.4% of GDP by 2027
Investments will enable the government to strengthen our world-leading R&D system and cement the UK’s position as a science superpower and innovation nation.
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