Bonnie Dean, chief executive of the Bristol & Bath Science Park, said the increase in research and development allowances in the Budget sends out a broadly positive message to large and small firms engaged in research and development.
“This is particularly important in a region which has some of the most advanced research-led companies in the world,” she said
“Investing in research and taking it to market are long-term endeavours and it is essential that the Government make these allowances consistently available for years to come.”
But she said the Chancellor's decision to maintain the reduction in the Annual Investment Allowance was a concern as it may have a negative impact on advanced manufacturing.
“Changes in technology are so rapid now that companies need to replace capital equipment more frequently in to maintain their competitive edge," she said.
Bath Ales, the small but fast-growing brewery and pub chain, has hit out at the rise in beer duty announced in today’s Budget.
Managing director Roger Jones called it unfair to brewers, to pubs, to pub customers, beer drinkers and to “all of us who live relatively modestly and enjoy simple pleasures”.
The firm, which owns seven pubs and produces a range of real ales at its brewery in Warmley, between Bath and Bristol, said the beer duty increase has been more than 40% over the past six to seven years and as beer volumes have fallen due to increased prices, so spirits, wine and cider have all experienced volume growth.
It said this was due to a system which puts them at an advantage, and brewers and the pubs that sell beer at a damaging disadvantage.
