Companies (Self-Financing of Research and Development)

HC Deb 29 November 1966 vol 737 cc51-2W

52. Sir Ian Orr-Ewing

asked the Chancellor of the Exchequer if he will seek to adjust taxation policy in order to encourage the self-financing of research and development by industry as recommended in the National Economic Development Council Report on the Electronics industry.

Mr. MacDermot

We have already done a great deal through the introduction of Corporation Tax and the investment grant scheme to facilitate the self-financing by companies of research and development, and I do not think that any further adjustments are called for.