UK R&D may be worth far more than currently estimated

The value of research and development undertaken in Britain each year could be more than 20 per cent higher than estimates currently show, early findings from a revamped Office for National Statistics survey showed on Monday.

The redeveloped Business Enterprise Research and Development Survey suggested the amount of R&D in 2022 was 53.0 billion pounds ($66.4 billion), compared with an existing estimate of 43.4 billion pounds – a 22 per cent increase.

R&D contributes to gross fixed capital formation...