Study Notes
Supply-Side Economics - Research and Development
- Level:
- AS, A-Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 29 Dec 2017
Spending on research and development (R&D) in the UK has remained low as a % of GDP – usually between 1.5 and 2% of national income
R&D spending in the UK Economy
The business sector performs the most R&D in the UK. In 2015, it accounted for £20.9 billion of expenditure, representing 66% of total expenditure on R&D performed in the UK. This is growth of 5% from £19.8 billion in 2014.
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