£51 billion (about $68 billion) of belief: UK business R&D spending climbs 7%

British businesses are putting more money behind new ideas. HMRC statistics put qualifying research-and-development spending at an estimated £51.0 billion (about $68 billion) in 2024-25, up 7% on the previous year, with total tax relief claimed rising to £8.2 billion (about $11 billion). Larger companies led the rise — their qualifying spend grew 14% to £30.2 billion (about $40 billion) — and the average claim value rose 27%. The pattern underneath is a portrait of the modern UK economy: information and communication accounts for 27% of claims, level with manufacturing, and together with professional, scientific and technical services the three sectors make up 75% of all claims. 'A 7% rise in qualifying spend is a vote of confidence in the UK as a place to build new products, technologies and ideas,' said Josh Perry of innoscripta.

SDG 9 · Industry, innovation and infrastructure — Mechanism: market force