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What does UK tech want from the 2023 Autumn Statement?

Jeremy Hunt during Autumn Statement holding traditional red briefcase
Image credit: I T S / Shutterstock

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....