In examining the forecasted government support for R&D in the UK from 2024 onward, there is a consistent upward trend in funding, with the value as a percentage of GDP gradually increasing from 1.19% in 2024 to 1.42% by 2028. This indicates a yearly growth rate, emphasizing the UK's commitment to bolstering innovation and technological progress. Looking back from 2023, the forecast displays a consistent annual growth trajectory which suggests a Compound Annual Growth Rate (CAGR) over the five-year forecast period.
Future trends to watch for include:
- Impact of increased government support on private sector R&D spending.
- Potential shifts in R&D investment focus post-Brexit.
- Influence of global economic conditions on UK's R&D policy and funding.
- Alignment of R&D support with emerging technology sectors.
