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Don’t cut R&D funding, businesses beg chancellor

Research and development must be spared from the government’s planned spending cuts, British businesses and universities have said.

In a joint letter to the chancellor, Jeremy Hunt, Universities UK and more than 100 businesses urged a fresh commitment to invest £20bn a year.

In 2021 the government pledged to increase funding for R&D by 25% to £20bn by 2024-25.

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