9bn but worries persist over Government cuts Spending on research and development in Britain rose by 5pc last year, with increased investment in the civil sector outweighing cuts in defence.
Despite the rise, concerns have been raised about the UK spending on R compared with global competitors, amid fears that Government grants to support research could be swapped for long term loans. Data from the Office for National Statistics showed the amount of money being pumped into R by UK business hit 19.9bn wayfarer ray ban sale last year, up from 19.1bn in 2013 at constant prices. Investment in civil research climbed by 7pc to 18.4bn, while the defence sector cut back, with its spending dropping 6pc to 1.6bn. The overall rise was the second consecutive year of growth but spending on R remained constant at 1.1pc of GDP considerably lower than many other nations. South Korea spent the equivalent of 4.1pc of GDP on developing new technology and products, Japan 3.4pc, Germany 2.9pc, the US 2.7pc and France 2.2pc, according to latest OECD data. The EU average was 1.9pc. The sector spending the most in Britain was pharmaceuticals, the ONS said, which put 3.9bn into research in 2014. This was down 200m on the previous year. IT was the second largest, recording a 220m increase to 2.35bn. Britain burgeoning classic ray bans car sector boosted by Jaguar Land Rover reported the largest increase, up 236m to 2.3bn. Investment in aerospace, the fourth largest area, rose 60m to 1.7bn. The ONS data also revealed a 7pc rise in the number of full time jobs in R to 192,000. The positive trend was welcomed by EEF, the trade body for manufacturers and whose members are responsible for more than two thirds of R spending in the UK. Felicity Burch, EEF senior economist, said: businesses have upped their investment in R as a result of ambitious business activity and improved Government support. leading to strong job creation. today data does not change the fact that the UK still lags well behind competitor nations. As the economic outlook remains uncertain the Chancellor must get behind innovative businesses and maintain the breadth of innovation support at next week spending review. Ms Burch added that failure to ray ban where to buy back R Britain falling into the industrial slow lane It is thought that the Chancellor George Osborne is considering shaking up the way Government funds research. Currently Innovate UK the public body formerly known as the Technology Strategy Board gets 600m of public money a year, which it distributes to industry through grants. However, it is understood that these could be swapped for long term loans to help the Government balance its books.
The call for more support was backed by ADS, the industry association for Britain aerospace, defence and security companies. Paul Everitt, chief executive, said: will always do R that not in doubt. The support they get to wayfarer encourage them to do it in a particular country is very important.
Prev: goggles ray ban