As the election draws ever nearer it is now clear that whichever party rules the roost at Downing Street after May, one thing is for certain, companies should be confident that the R&D Tax Credit programme will be a part of the business landscape for the foreseeable future. The Conservative Party have taken on-board the recommendations in the report by James Dyson titled ‘Ingenious Britain’ and will retain the R&D Tax Credit programme – effectively a U-turn in policy from last year.
Dr Tim Bradshaw, head of enterprise and innovation at the CBI, welcomed this change and supported Dyson’s view that strengthening the programme further was necessary. He continued by saying: “R&D tax credits should not be restricted to SMEs and hi-tech firms, but should be available to companies of all sizes and sectors. This would encourage all businesses to grow through investment and innovation”.
We think this deserves three sucks on a Dyson vacuum cleaner!
Posted on Tuesday, 16th March, 2010