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Sunak cuts £2bn from R&D budget but will fund Cummings science agency
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Chancellor Rishi Sunak has delayed £2bn in annual spending on research and development (R&D), even as he committed to funding a new advanced research body that was the idea of ex-No 10 adviser Dominic Cummings.
The government will spend £20bn a year on R&D investment in the 2024-25 tax year, down from a previous commitment of £22bn, Sunak said in the autumn budget on Wednesday. The £22bn target will be hit two years later than previously planned, in 2026-27.
The earlier target was announced in the March 2020 budget, which was delivered before the UK’s first pandemic lockdown and the historic recession it prompted.
The delay in spending was also likely to further push back the Conservatives’ 2019 manifesto commitment to spend 2.4% of GDP on
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