£86bln for UK science and technology
Funding of more than £22.5bln a year in 2029 for research and development was confirmed in the Spending Review.
Chancellor Rachel Reeves’ announcement represents £86bln in funding for research and development (R&D) for the UK.
This includes up to £500mln for regions across the UK and is aimed to bring regional benefits to areas such as Liverpool and Port Talbot.
The package is aimed to drive jobs and economic growth as well as helping the UK lead the way in pioneering technologies of the future.
It is confirmed alongside the Sizewell C announcement and part of the Plan for Change.
The government state that every £1 invested in R&D generates up to £7 in benefits to the UK economy.
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