Chancellor Rachel Reeves will announce a transformative £86 billion in the Spending Review to turbo-charge the UK’s fastest growing sectors, from tech and life sciences, to advanced manufacturing and defence, as part of the government’s plan to invest in Britain’s renewal through our Modern Industrial Strategy.
Britain will boost its world-leading status in research and innovation with a bumper funding package worth more than £22.5 billion a year in 2029/2030. From exploring new drug treatments and longer lasting batteries, to new AI breakthroughs, the package will drive new jobs and economic growth as well as ensuring the UK leads the way in pioneering the technologies of the future.
The new R&D package will mean local leaders have government backing to develop ‘innovation clusters’ across the country, to unlock the talent and opportunity in every region and nation.
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