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Study Notes

Supply-Side Economics - Research and Development

AS, A Level, IB
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Spending on research and development (R&D) in the UK has remained low as a % of GDP – usually between 1.5 and 2% of national income

R&D spending in the UK Economy

The business sector performs the most R&D in the UK. In 2015, it accounted for £20.9 billion of expenditure, representing 66% of total expenditure on R&D performed in the UK. This is growth of 5% from £19.8 billion in 2014.

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