Select committee: Public Accounts Committee
Conclusion 5
41st Report - UK Research and Innovation
Published 23 Jul 2025
Addressed to HM Treasury
Public Accounts Committee UK Research and Innovation All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
It is unclear how UKRI manages risk across its portfolio and what the different parts of its portfolio are meant to achieve. UKRI has repeatedly referenced the importance of its portfolio approach to funding research and innovation. However, the committee is not convinced that the components of UKRI’s portfolio and the objectives they seek to achieve are sufficiently defined and deployed in a tactical way. DSIT highlights the importance of defining the places where government needs to take more risk. UKRI says it has a very long and strong track record of taking high risks in the research it invests in. However, we are concerned that UKRI cannot demonstrate how it manages risk across its portfolio, and does not actively monitor its high risk, high reward investments. However, we are not discouraging investments in this area. If you always castigate failure, innovation is at risk of being stifled. recommendation DSIT and UKRI should work together to further develop the government’s approach to risk when funding research and innovation. This should include defining what is meant by risk in this context for their organisation and what it means for its staff and stakeholders. 5
From: Public Accounts Committee, 41st Report - UK Research and Innovation (HC 826), 23 July 2025
Government response
Latest Treasury Minutes progress report to the Committee of Public Accounts on the Forty-first Report of Session 2024-26
The government responded to the whole report on 4 June 2026 (deadline 23 September 2025).
Treasury minutes: Government response to the Committee of Public Accounts on the Forty-first report from Session 2024-26
Published 15 October 2025.
Summary written by Accountability Index from the government's response. It is not the government's own words.The government states that it agrees with each of the Committee's recommendations on UKRI's priorities, objectives, data, IT systems, risk and scaling innovation, with target dates between Autumn 2025 and Summer 2026.
- On objectives, DSIT is developing strategic objectives for UKRI underpinned by measurable key results, and will publish them "by Autumn 2025".
- On data visibility, UKRI is developing a new online portal to replace Gateway to Research, "currently planned to be launched in Summer 2026", and will report to the Committee on progress in February 2026.
- On risk, UKRI will incorporate the NAO's recommendations into its 2025 review of its risk appetite statement, "to be completed by February 2026" and "closely monitored by DSIT".
- On scaling innovation, the impact of the new Proof-of-Concept funding "will only be possible" to understand after the first rounds conclude and are evaluated, with evaluation dates "not yet confirmed".