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PM announces a £2 billion investment in research and development

Business Support News

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Prime Minister Theresa May is announcing a major research boost today to make Britain the go-to place for innovators and investors.
In her first speech to the CBI Annual Conference today, Prime Minister Theresa May will outline the first steps in a modern, ambitious Industrial Strategy which will build on the country’s strengths and address the long-term structural challenges which can hold British businesses back.
The Prime Minister will use her speech to business leaders today to outline how her government will step up to the task and get the economy firing on all cylinders by announcing plans to secure the UK’s long-term commitment to research and innovation, including:

  • substantial real terms increases in government investment worth £2 billion per year by 2020 for research and development, to ensure British business remains at the cutting edge of scientific and technological discovery.
  • a new Industrial Strategy Challenge Fund to back priority technologies – such as robotics and biotechnology – where the UK has the potential to turn strengths in research into a global industrial and commercial lead.
  • a review of current R&D tax incentives to ensure the global competitiveness of the UK as a home for scientists, innovators and tech investors.

The Prime Minister will build on her message to the Lord Mayor’s Banquet at Guildhall last week, by arguing that government and business must work together to ensure growth and opportunity is shared in a country that works for everyone, not just the privileged few. Read more 

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