G8 countries ahead of UK in R&D investment
|
Version 0 of 1. The Government spends just 0.49 per cent of GDP on research & development (R&D), the lowest among the G8 group of leading industrial nations, according to the Confederation of British Industry (CBI). The lobby group is pressing ministers to prioritise innovation and science in the forthcoming Comprehensive Spending Review. “Our research shows that innovation investment has never been more important, given its effect on enhancing productivity,” said John Cridland, outgoing director general of the group. “We need to build on our research excellence by fuelling the UK’s innovation ecosystem with investment, fresh ideas and skills. “With the UK’s research and development spending the lowest among the G8, we are falling ever further behind our international competitors, and must take action so that we lead from the front,” he said. Carolyn Fairbairn will replace Mr Cridland later this year, becoming the first woman to run the CBI. |