New target set for Scottish R&D investment

In a speech to Spirit Aerosystems, First Minister Nicola Sturgeon set out some of the steps the Scottish government will take to benefit our economy in the decade between now and 2027.

"Research and development helps to drive innovation, and therefore makes a difference to productivity and economic growth," she said.

"So I can announce today that in each of the next three years, we will increase Scottish Enterprise support for this by almost 70% – from £22m a year to £37m.

"We expect that £45m of increased investment from the public sector over the next three years to result in almost £300m of further research and development expenditure. It's a further sign of our determination to work with businesses to address an issue that, left unaddressed, is harmful to growth."