Select committee: Public Accounts Committee
Conclusion 13
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)
DSIT and UKRI advised us that private sector investment in UK R&I was £46.7 billion in 2024.27 We asked whether private investment in UK R&I has gone up or down in recent years. DSIT advised that it is going up, but that due to a correction to the ONS data set, the data is only available for a small number of years and a long-term view cannot be provided.28 21 C&AG’s Report, para 11 22 C&AG’s Report, para 1.18 23 Q 66 24 Q 67 25 C&AG’s Report, para 3.8 26 Q 71 27 Q 46 28 Q 48 11
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".