Recent industry data has showed that investment in Research and Development (R&D) in Britain is failing to keep pace with other nations across the world. The research report uncovered that the UK is presently behind by around £62 billion in R&D spend in comparison to Israel, the world’s investment leader for the sector after experiencing a fall in global shares.
According to the new analysis, international R&D investment in Britain is now suffering from a significant black hole, dropping around 20 per cent since 2014.
Researchers found a substantial fall in investment from 4.2 per cent to 3.4 per cent, despite consecutive UK prime ministers stating that science and new innovations were an integral part of their strategies for national growth.
Previous PMs, including both David Cameron and Boris Johnson, showcased Britain as a centre for R&D, with the UK government hoping to make a ‘science superpower’ of the country in the future.
New Prime Minister, Rishi Sunak, is also known for providing vocal support of the UK technology sector in the past, so there is hope among industry heads that he will maintain this trend as he assumes the mantle of leadership.
Despite Government statements, currently Britain places just 11th for R&D investment globally, putting it behind countries such as the USA, Austria, and Switzerland. UK consumers interested in acquiring assets in markets like the technology industry often seek out experts for sound investment advice in Chester, Shropshire and other parts of the country.