There has been a rise 海角视频 company expenditure on research and development, although Wales makes up less than 2% of the overall figure.
New data from the Office for National Statistics (ONS) show that R&D spending - based on current prices- in 2024 was up 4.5% (£2.4bn) on 2023 to £55.6bn. The rebound follows two consecutive years of falling private R&D spending.
The R&D expenditure for Wales was £884m up on £825m a year earlier, but down on the £873m in 2022.
The spending in Wales represented 1.6% of the 海角视频 total, far lower than its percentage share of the 海角视频’s business population. For Scotland R&D investment of £2.83bn, represented 5.1% of the 海角视频 total with the £758m for Northern Ireland equating to a 1.4% share.
England made up 91.9% at £51.13bn. The highest percentage contribution for any 海角视频 nation or region was London with 24% (£13.32bn),followed by the east of England with 18.5% (£10.3bn) and 16.6% in the south east (£9.22bn).
Businesses across the 海角视频 employed last year 518,000 undertaken R&D activities. In Wales the number was 14,000 making up 2.7 of the 海角视频 total. Scotland with 35,000 made up 6.8% of the 海角视频 total and Northern Ireland 1.9% with 10,000. The contribution was London with 23% and 119,000 people. When measuring the value of R&D performed by industry the scientific research and development sector performed the most in 2024, at £13bn (23.5%) followed by the computer programming, consultancy and related activities industry at £7.5bn (13.4%).
The National Centre for Universities and Business (NCUB) cautioned that the rebound does not yet represent sustained growth. Over the full four-year period since 2021, cumulative growth in business R&D is close to zero, meaning much of the 2024 increase simply offsets earlier losses.
Its chief executive Dr Joe Marshall said “It is encouraging to see business R&D spending picking up after two difficult years. But the recovery is fragile. When you look across the last four years, the rebound in 2024 only brings us back to where we were in 2021. This recovery is an early signal of renewed confidence, not a full turnaround. Continued commitment from government and industry will be essential to sustain it.”
“Businesses are clearly willing to invest when conditions are stable and predictable. Our taskforce on business-led innovation has consistently heard that uncertainty, complexity and short-term policy shifts have held back investment decisions. If the 海角视频 is to convert this tentative recovery into long-term growth, we need a clearer strategic focus, a simpler system, and greater consistency in the support landscape.”