Fact of the day
Research and development (R&D), especially in new technologies, holds the key to future economic growth and jobs. The EU’s aim is to invest more in research to bring its R&D spending in line with that of the United States and Japan. In 2004, Japan spent the equivalent of 3.15% of its gross domestic product (GDP) on R&D and the US 2.67%, compared with the EU average of 1.83%.