Physics: Investing in our future - UK

Video transcript:
Physics powers economic and social progress
It drives growth and productivity
raises living standards
and can help us tackle the climate emergency
Physics research and development makes this
possible
In 2019, physics-based industries generated
£230bn for the UK economy
twice the contribution of construction, transport
or retail
350,000 physics-based enterprises employ 2.7m
people across the UK
We are a global leader in science and innovation
but our position is at risk
UK investment in R&D is equivalent to just
1.7% of GDP
The average among leading economies is 2.5%
South Korea, Japan, Germany and the US exceed 3%
and their investment is growing
By creating the right conditions, we can unlock
the full benefits of physics R&D in the UK
Secure a competitive position on the world
stage
Create rewarding jobs and productive industries
And build a healthier, fairer, more sustainable
future
As the fourth industrial revolution transforms
our world
we cannot afford to be left behind
We are calling on Government to increase investment
to 2.4% of GDP by 2027
and build a thriving R&D ecosystem
that can deliver huge economic and societal
benefits to every part of the UK
Our R&D roadmap will set out how that can
happen
through people and skills
infrastructure
scientific discovery
and business innovation