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Research: Finance

Volume 504: debated on Monday 18 January 2010

To ask the Minister of State, Department for Business, Innovation and Skills what progress the Government have made in meeting its target to increase research and development spending to 2.5 per cent. of national income under the Science and Innovation Investment Framework 2004-14; and what steps he is taking to ensure that the target is met. (309705)

The Department reports annually on progress on all aspects of the Science and Innovation Investment Framework, the fifth and most recent report is available on the Department's website at:

http://www.dius.gov.uk/~/media/publications/A/annual-report-2009

The focus solely on research and development spending fails to capture the breadth of investment in innovation in the UK economy. It is for this reason that the Innovation Nation White Paper committed the Government to developing an Innovation Index for the UK.

The pilot Innovation Index, developed by the National Endowment for Science, Technology and the Arts (NESTA) was published in November 2009 and is available at:

http://www.nesta.org.uk/library/documents/innovation-index.pdf

Progress on a number of the original innovation measures will be reported on in the second Annual Innovation Report which will be published shortly.