R&D Investment: £22.6bn Annually by 2029-30

Commitment: Increase public investment in research and development to £22.6 billion annually by 2029-30.

Owner: HMT / DSIT / UKRI

Target date: 2029-30

Metric: Total public R&D expenditure (BEIS/DSIT spending on science, research, and innovation).

Status: active

Context

The UK’s R&D investment target is a commitment to maintain and grow the science and research base. The £22.6bn figure represents a significant real-terms increase from current levels, maintaining the UK’s position as a leading research nation post-Brexit (UKRI, universities, and Innovate UK funding streams).

Relationship to industrial strategy

The IS-8 sectors (advanced manufacturing, life sciences, clean energy, digital, financial services, etc.) all depend on R&D investment as a growth enabler. The IS-8 sector plans identify R&D funding as a key input alongside skills and infrastructure.

Relationship to clean power

Clean Power 2030 identifies innovation in battery storage, floating offshore wind, tidal energy, and grid technology as key to long-run cost reduction. R&D investment supports these innovation pathways.

Key context

• UK GERD (Gross Expenditure on R&D) target: 2.4% of GDP (international benchmark)
• £22.6bn annually represents progress toward but may not fully reach the 2.4% GDP target by 2029-30 depending on GDP growth

Delivery history

• [June 2025] Spending Review: £22.6bn R&D commitment confirmed for 2029-30