Responding to the publication today (26 January 2009) by DIUS and BERR of the 2008 R&D Scoreboard, David Kingham, Chairman of the R&D Society, commented "The overall rise in R&D expenditure by the top 850 UK companies of 6% to £21.6 billion is welcome news, and shows continued confidence in UK companies of the value of R&D to their business. The news that the top 88 UK companies, who also rank in the top 1,400 global investors of R&D, increased their R&D investment by 10.3%, is offset by the Scoreboard’s findings that the remaining companies outside the top 88 grew their R&D by just 1.2% - a fall in real terms."
David Kingham continued, "It is not clear from the Scoreboard whether this reflects cuts in R&D activity or smarter spending by these companies, increasing their R&D efficiency. Given that these figures are from a time period prior to the current recession, we urge the Government to keep a close eye on the R&D activities of UK companies, and maintain and improve their efforts to support UK R&D. "
David Kingham concluded, "We endorse the R&D Scoreboard as a useful tool to enable companies to benchmark their R&D efforts with their peers. Investment in R&D is necessary for the long-term growth of many companies, and now is not the time for the Government to be distracted by short term financial difficulties at the expense of long-term, R&D-based improvements."
Update 27 January 2009: Coverage in Research Fortnight, ScienceBusiness, and The Engineer.
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