Rebecca Long Bailey MP, Shadow Secretary of State for
Business, Energy and Industrial Strategy, commenting on the Government’s
announcement of Industrial Strategy Challenge
Fund investments, said:
“This
is simply a re-commitment of R&D funding announced at last year’s Autumn
Statement.
“R&D
is vital for the UK’s future prosperity yet this Government have cut funding
since 2010 and the UK remains significantly behind the OECD average of
2.4% of GDP in public and private investment in R&D.
“Labour
is committed to bringing the UK in line with our international counterparts and
will raise total public and private investment in R&D to 3% of GDP.”
Ends
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