New figures from the Office for National Statistics reveal that the number of foreign-owned UK businesses conducting in-house R&D has increased by 106% between 2003 and 2016.
In 2003 there were 709 such firms compared with 1,458 in 2016. This has far outstripped growth within UK-owned businesses which has risen by 47% over the same period.
R&D spend more than doubled over the period from £3.2billion to £7.3billion for foreign owned businesses, compared with growth in UK-owned businesses from £3.7billion to £6.4billion.
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