In 2023, the UK's indirect government support through R&D tax incentives stood at approximately 0.33% of GDP. The forecast from 2024 to 2028 shows a slight upward trend, rising from 0.34% to 0.35% of GDP. Although the year-on-year variation indicates a stable outlook with minimal fluctuations, the five-year compound annual growth rate (CAGR) reflects a moderate increase in support through these incentives.
Future trends to watch for include potential changes in government policy that could influence the extent of R&D tax incentives and their impact on innovation and economic growth. Additionally, tracking technological advancements and the broader economic climate may affect these incentives' effectiveness and uptake.
