The House of Commons Science and Technology Committee will question the Office for National Statistics on its revised methodology to calculate UK business spend on research and development, in a one-off evidence session. The change, announced in September, increased estimates of how much businesses in the UK spend on R&D each year by over £15 billion and brings the UK close to the Government’s overall target to spend 2.4% of GDP on R&D.
Meeting details
In the second panel, MPs will examine the likely implications of the revised estimate. It will also be an opportunity for witnesses to give their views on the changes to the R&D tax credit scheme for small and medium-sized enterprises, announced in the Autumn Statement.
In the final panel, the Committee continues its inquiry on delivering nuclear power with an examination of the financing models for new nuclear projects. MPs are expected to consider the merits of the RAB model and whether nuclear should be included in the UK’s forthcoming Green Taxonomy—a framework by which investors or companies can more easily consider the sustainability of investments or activities.