Finance

R&D spending on construction reaches record high

By 2022-07-05T07:51:00

Construction development

Source: Shutterstock/ Piyapong Wongkam

Research and development spending in the construction sector surged by 20% on an annual basis to a record high in the first quarter of 2022, analysis of the latest ONS data by tax specialist Catax shows.

The construction industry spent £138m on R&D during the first three months of this year, up 20% from £115m recorded in the same quarter of 2021. R&D spending on a quarterly basis also climbed by 14.1% from £121m.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue