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Autumn Statement 2016

Autumn Statement 2016 comment: R&D tax credits and the British Business Bank

Commenting on today’s announcement on above the line R&D tax credits and the British Business Bank investment, Dom Preston, Partner, TMT said: 

“The UK tech sector is booming, full of smart and innovative businesses and the aspiration to make the UK an even more attractive place to undertake R&D and create IP value is spot on.

“The package of measures is designed to increase productivity with R&D as a key lever. How this is going to nurture our burgeoning start up community through the turbulent scale up years, keeping ownership and value in the UK (and not snapped up by overseas investors), is unclear. It will be interesting to see how the £400 million investment will be specifically targeted at scale-ups and not the traditional policy stomping ground of start-ups.”