Fall in UK motor industry R&D spending
Analysis of the latest data from the Office of National Statistics by R&D tax relief specialists Catax shows that R&D spending in the UK motor industry has slumped 9 per cent annually. Total motor sector spending on R&D fell to £3.42bn last year, a decrease of £338m from a record high of £3.75bn registered a year earlier. The industry now employs 22,000 people directly involved in R&D, however, the latest spending figure is a dramatic turnaround from the 4.2 per cent increase seen in 2018.