As of 2024, the UK government budget allocations for R&D stand at 0.62% of GDP, consistent with 2023. Forecasted to remain at 0.62% through 2025, the allocation shows a slight decrease to 0.61% for 2026-2028. This indicates a relatively stable investment level, with a negligible decline in the latter years. The five-year CAGR from 2023 to 2028 is effectively flat, reflecting minimal change in R&D budget allocation when expressed as a percentage of GDP.
Future trends to watch include potential policy shifts affecting budget allocation in science and technology, emerging industries, and innovation. Monitoring global economic conditions and the impact of Brexit on domestic R&D funding will also be crucial.
