Deloitte comments on R&D support in the Industrial Strategy Green Paper
23 January 2017
Commenting on the Industrial Strategy Green Paper, David Cobb, lead partner for innovation tax at Deloitte, said:
“The Government's support for UK R&D and Innovation as highlighted in the Autumn Statement and reinforced in today’s Industrial Strategy Green Paper is very welcome. The UK has a world-leading system of tax credits for R&D activities as well as the more recent patent box regime and business will be encouraged to see continued, and increased, funding for these areas starting to take shape
“New funding sources directed at innovation activities in key areas such as smart energy, robotics, AI/cognitive technologies, the continued enhancement of cellular networks and also blockchain will further boost business confidence within and outside of the UK.
“Initiatives that further promote collaborations between small and large business and academia will also help to nurture and grow the many dynamic young businesses that have thrived in the UK and reinforce our place as a key location for entrepreneurship and growth.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.