‘Untapped Investment’ – CBI report sets out three recommendations for government.
23 Aug 2019, 2 min read
At the current pace of investment the UK will miss its R&D investment target by £19 billion in 2027. It’s crucial that the R&D tax credit keeps pace with the changing nature of R&D and our international competitors, as it will help spur private sector investment to close the gap.
The CBI’s new report – ‘Untapped Investment’ – shows policymakers how to improve the current research and development (R&D) tax credit to help the UK meet its 2.4% investment target.
The CBI is calling on the government to:
- Widen the scope of eligibility for the R&D tax credit to ensure it keeps pace with modern R&D practices
- Review the availability of data on R&D expenditure to ensure the R&D tax credit’s effectiveness continues to be monitored appropriately
- Ensure the R&D tax credit is internationally recognised as world-class by regularly benchmarking the UK’s regime against international peers.
R&D business investment is a key enabler of productivity growth. But, as shown in the C
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