Budget boost for research-led businesses
Bonnie Dean, chief executive of the Bristol & Bath Science Park says today's budget offers some good news for research-led businesses
Responding to the Chancellor’s 2012 budget today, Bonnie Dean, chief executive of the Bristol & Bath Science Park said:
"By increasing R & D allowances the budget today sends out a broadly positive message to South West companies, large and small, which are engaged in research and development.This is particularly important in a region which has some of the most advanced research-led companies in the world. Investing in research and taking it to market are long-term endeavours and it is essential that the Government make these allowances consistently available for years to come.
“The Chancellor's decision to maintain the reduction in the Annual Investment Allowance is a concern because it may have a negative impact on advanced manufacturing. Changes in technology are so rapid now that companies need to replace capital equipment more frequently in to maintain their competitive edge.