In conjunction with announcing her Industrial Strategy, Prime Minister Theresa May announced in November 2016 that the UK government would invest an additional £2 billion per year in research and development by 2020.
She also announced a new Industrial Strategy Challenge Fund that will invest in “priority technologies” like robotics and biotechnology.
Of this increase in investment, the PM May said:
It is a new way of thinking for government – a new approach. It is about government stepping up, not stepping back, building on our strengths, and helping Britain overcome the long-standing challenges in our economy that have held us back for too long.
To read the full government press release about the Prime Minister’s announcement, click here: https://www.gov.uk/government/news/pm-announces-a-2-billion-investment-in-research-and-development