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CBI responds to Government's R&D announcement

The CBI has responded to the series of announcements made by the Government on the road to 2.4% R&D target, including a new centre to tackle cancer and green transport technology.

Felicity Burch, CBI Innovation Director yesterday said:

“These announcements are a positive step on the journey to spending 2.4% of UK GDP on R&D and demonstrate how government support can help businesses to do more.

“But further action is needed. Meeting this spending target will require significant increases in investment to £70 billion per year – roughly double what it is today.

“Crucially, momentum cannot be lost under any future Prime Minister. The CBI is calling on both candidates to re-commit to the 2.4% agenda and adopt a concrete time frame to increase this to 3%.”

 

Original article link: https://www.cbi.org.uk/media-centre/articles/cbi-responds-to-governments-rd-announcement/

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