Statement to the Education and Culture Committee on the Government proposal for an Act on Research and Development Funding for 2024–2030

Finland’s goal is to raise the research and development expenditure to four per cent of GDP. This means an increase of EUR 1.8 billion in State research and development funding over the years 2024 to 2030. The annual increase in authorisations and appropriations would amount to approximately EUR 260 million compared to the level of the previous year.

According to the Union, investments in research and innovation provide the foundation for future growth and the renewal of society. Strong RDI activities are key to building a sustainable and resilient society and implementing the green transition. High-standard and long-term basic research supports the competence base, fairness and resilience of society. The Union views the legislative proposal as being highly beneficial.