Bulletin

Invest more in R&D, demand business chiefs

Investment - CBI has claimed that Britain invests the least of all the GB nations - SantanderCB

The CBI has claimed that Britain invests the least of all the G8 nations in research and development, and called on the government to reinvest funds from austerity cuts into innovation. The business group says the government spends only 0.49% of GDP on R&D and has demanded that ministers double the budget for Innovate UK, the body sponsored by the business department, to address that imbalance. It wants the government to raise investment in research and science to 3% of GDP and to establish a long-term strategy. John Cridland, the outgoing head of the CBI, said: 'Our research shows that innovation investment has never been more important, given its effect on enhancing productivity. While our economy is doing well, we must not be complacent, as we cannot afford to rest on our laurels while our peers pace ahead.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?