On Wednesday the chancellor will deliver the 2023 Autumn Statement. The UK tech sector will be watching closely for measures supporting business growth following a year of challenging economic headwinds.
Many tech-focused budget details have already been revealed. They include new funding for quantum computing, the publication of the spinouts review, a US-inspired tech VC fellowship scheme, and action on pension reforms.
But what else does UK tech want Jeremy Hunt to announce in this year’s Autumn Statement?
Fixing R&D tax credits
The overwhelming message from tech startups is for the Treasury to fix the R&D tax credits scheme. The scheme, which was first introduced in 2000, allows startups to offset some of the costs for research and development by claiming some of that expenditure back in tax relief....