§ 58. Mr. Hunter
To ask the Chancellor of the Duchy of Lancaster what are the latest figures available for the level of funding for research and development provided by industry.
§ Mr. Maude
Industry spent £3.6 billion on the research and development which it performed in 1986. The150W information was contained in an article on the results of the 1986 survey of industrial research and development published in British Business on 5 February 1988. A copy of this is in the Library.
§ 74. Mr. McLeish
To ask the Chancellor of the Duchy of Lancaster if he is satisfied with the level of spending by industry on research and development.
§ Mr. Butcher
There are some companies and industries in the United Kingdom whose innovation record is outstanding, but in general the level and growth of British industry's spending on R and D have been lower as a proportion of GDP than its main overseas competitors. The Government have created the right climate to enable industry to invest more in R and D. A major objective of my Department's innovation policy is to encourage industry to fund more of its own R and D and to encourage co-operation between companies and the academic science base, for the purpose of increased wealth creation and competitiveness.