WOBO recognises our future success will be the outcome of research and development today.
The UK Government has announced R&D funding totalling £39.8bn through to 2025, in what it has described as the largest allocation of its kind to date.
The funding package was announced today (14 March) by the Department for Business, Energy and Industrial Strategy (BEIS). It builds on the Innovation Strategy, which was updated last March with new measures on net-zero, and the more recent Levelling Up White Paper, which included a commitment to boost public R&D investment outside of South East England by 40% this decade.
BEIS’s plans for allocating the funding is framed as appropriate for delivering on these ambitions and the other headline commitments of the Strategy and the White Paper.
More than £11.5bn will be allocated to BEIS’s own programmes between now and the end of 2025. The UK will also allocate some £6.7bn of funding to EU programmes within this timeframe, including Horizon Europe and its supporting scheme for nuclear power, Euratom Research and Training.
UK Research and Innovation (UKRI) is taking the lion’s share of the funding, with an allocation of more than £25.1bn through to 2025 planned. UKRI provides investment and support within a range of areas relating to environmental sustainability, including bioenergy, low-carbon construction, recycling, advanced materials, offshore wind and carbon removals and storage. Read more….