The UK’s civil government budget allocations for R&D in economic development are forecasted to progressively rise, starting from $4.7 billion in 2024 to reach $5.46 billion by 2028. Compared to the actual value in 2023, this indicates a strong commitment towards investing in R&D.
Year-on-year changes reflect steady growth: a 4.26% increase from 2024 to 2025, 3.88% from 2025 to 2026, 3.74% from 2026 to 2027, and 3.41% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year forecast period averages out at approximately 3.82%.
Looking ahead, potential trends to monitor include the impact of this increased funding on innovation outputs, partnerships between public and private sectors, and the effects on overall economic growth in the UK.
