Research and Development spend

The Office for National Statistics (ONS) has revealed that UK businesses spent £25 billion on Research and Development (R&D) in 2018.

Data from the ONS showed that total R&D expenditure increased from £23.7 billion in 2017 to £25 billion in 2018.

The report showed:

  • the aerospace industry saw the largest increase in R&D expenditure with a total spend of £210 million
  • the UK telecoms sector also experienced fast growth in R&D spending, increasing by 25.4% in 2018 to £192 million.

According to the ONS, the government's funding of R&D amounted to £1.7 billion in 2018, which accounted for 6.9% of all R&D expenditure. The data revealed that machinery, equipment and shipbuilding were the biggest beneficiaries from government funding.

Internet link: ONS reports

Terms of Business | Contact us | Site map | Accessibility | Help | Disclaimer |

© 2020 Andrew Thomas Accountancy Ltd Chartered Certified Accountants. All rights reserved.

acca.png

Andrew Thomas Accountancy Ltd, 82 Oswald Road, Scunthorpe, North Lincolnshire DN15 7PA
Registered in England. Company number 6312617. VAT number 921129258. ACCA Registration number 1553641