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    Home > Headlines > Britain to allocate $116 billion to R&D in spending plan
    Headlines

    Britain to allocate $116 billion to R&D in spending plan

    Published by Global Banking & Finance Review®

    Posted on June 7, 2025

    1 min read

    Last updated: January 23, 2026

    Britain to allocate $116 billion to R&D in spending plan - Headlines news and analysis from Global Banking & Finance Review
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    Tags:innovationresearcheconomic growthGovernment fundingjob creation

    Quick Summary

    The UK plans to invest $116 billion in R&D, focusing on innovation and economic growth. This initiative is part of a larger public spending strategy.

    UK to Invest $116 Billion in Research and Development Initiatives

    LONDON (Reuters) -British finance minister Rachel Reeves will allocate 86 billion pounds ($116 billion) in this week's spending review to fund research and development, the Department for Science, Innovation and Technology (DSIT) said on Sunday.

    It said the package, funding everything from new drug treatments and longer-lasting batteries to artificial intelligence breakthroughs, would be worth over 22.5 billion pounds a year by 2029/30, driving new jobs and economic growth.

    Reeves will divide more than 2 trillion pounds ($2.7 trillion) of public money between her ministerial colleagues on Wednesday, making choices that will define what the year-old Labour government can achieve in the next four years.

    The DSIT said the announcement on R&D follows Reeves' commitment last week to 15.6 billion pounds of government investment in local transport in city regions in the Northern England, Midlands and the South West.

    ($1 = 0.7398 pounds)

    (Reporting by James Davey, Editing by Louise Heavens)

    Key Takeaways

    • •UK allocates $116 billion to R&D in spending review.
    • •Investment targets drug treatments, batteries, AI breakthroughs.
    • •Annual R&D funding to reach 22.5 billion pounds by 2029/30.
    • •Part of broader 2 trillion pounds public spending plan.
    • •Follows recent 15.6 billion pounds investment in local transport.

    Frequently Asked Questions about Britain to allocate $116 billion to R&D in spending plan

    1How much is the UK government allocating for R&D?

    The UK government is allocating 86 billion pounds, equivalent to $116 billion, for research and development in the upcoming spending review.

    2What areas will the R&D funding cover?

    The funding will support various areas including new drug treatments, longer-lasting batteries, and breakthroughs in artificial intelligence.

    3Who is responsible for the spending plan announcement?

    The announcement regarding the spending plan is made by British finance minister Rachel Reeves.

    4What is the expected annual value of the R&D package by 2029/30?

    The R&D package is expected to be worth over 22.5 billion pounds a year by the fiscal year 2029/30.

    5What previous investment did Rachel Reeves commit to?

    Last week, Rachel Reeves committed to 15.6 billion pounds of government investment in local transport for city regions in Northern England and the Midlands.

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