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Whatever happens at the Autumn Statement, the chancellor must fix R&D tax credits

Jeremy Hunt chancellor has been called on to fix R&D tax credits for startups
Image credit: Kirsty O'Connor/HM Treasury.

A day away from Jeremy Hunt’s Autumn Statement, we’ve heard a lot of noise about what to expect for the tech ecosystem.

In typical fashion, the Treasury has been slowly but surely trailing large chunks of the speech. That means we can expect to hear some of the following from the chancellor on Wednesday: ISA reform, new funding for quantum computing, the publication of the spinouts review, a new Kauffman fellows-type scheme for investors in the UK, action on pensions, and lots more.

All potentially really exciting stuff. From the perspective of tech startups though, it’s alarming that there’s one topic we haven’t heard about at all – but must. R&D tax credits.

As any founder knows, R&D tax credits are a key driver of startup innovation. Startups we survey say they are critical to their early-stage survival. But the scheme is in chaos....