UK R&D spend hits £25bn annually
Businesses spent £25bn on research and development (R&D) in 2018, an increase of 5.8% on the previous year, new figures from the Office for National Statistics (ONS) show.
Total R&D spent went up from £23.7bn in 2017. The ONS says a long-term upward trend is evident when considering R&D expenditure in constant price terms, with an average annual growth rate of 2.5% since 2007 levels. In constant price terms the latest increase from 2017 was 3.9%.
Read more at the Accountancy Daily.