In the UK, indirect government support through R&D tax incentives is forecasted to grow steadily from 2024 to 2028. The baseline value stood at 17.6% of BERD in 2023, with projected increases each year reaching 20.14% by 2028. Year-on-year variations show consistent growth. From 2024 onwards, annual increments reflect positive trends in government commitment to fostering research and development. Over this five-year span, the compound annual growth rate (CAGR) represents a particular focus on maintaining competitive innovation sectors within the national economy.
Future trends to watch for include potential policy adjustments reflecting political changes, technological advancements impacting R&D approaches, and global economic conditions influencing the allocation of tax incentives. Close monitoring will help stakeholders anticipate shifts in the innovation landscape.
