Not only is it free riding because the UK isn't spending a proportional amount of their GDP, but it could also be considered free riding because the quantity of research by the UK isn't the same; size notwithstanding.
But you're next line is absolutely baseless. What makes you think the UK spends their research dollars more efficiently? I'd love to hear even a single reason.
While you're thinking, here are some breakdowns of spending: US: 70.1% of spending is by private industry, 13.6 academic, 12.2 government.
UK: 65.7 private industry, 21.4 academic, 9.7 government.
I'd say they look much closer than you would have people believe.