Levelling up to £22 billion: research, innovation & local business support

The UK government 2020 budget outlined plans to raise public investment in research and development (R&D) to £22bn by 2024-2025.

Increasing expenditure in R&D is a critical means by which the government can support recovery from the pandemic and its ambition to level up the country.

It is crucial that by increasing the level of spend on research and innovation, the government ensures that investment is spread across the country to support effective recovery and help reduce regional inequalities.

The funding priorities outlined in this brief would represent an investment in both universities and local businesses.