Reporter 459, 20 November 2000

Pre-Budget boost for research spending

Chancellor Gordon Brown has announced proposals for a tax relief package to encourage Brirish industry to invest more heavily in research and development. His pre-Budget statement signalled changes to the taxation of income from intellectual property, goodwill and other intangible assets, which will be circulated for a consultation period.

The proposals were welcomed by several commentators. Peter Cotgreave, director of the pressure group Save British Science, said tax credits would stimulate scientific growth but university salaries would have to improve before the country could become Europe’s ‘scientific capital’.

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