Annual R&D spending in the telecoms sector has risen 4.5 percent to a nine-year high of just over £ 1 billion, according to ONS (Office of National Statistics) data.
R&D tax relief specialist Catax has broken out the UK figure and found that R&D spending across telecommunications businesses in the UK climbed £44 million to £1.02 billion in 2020 having risen for three years in succession.
However, the industry is unusual in that it hasn’t grown its R&D spending at all over the past decade.
