Labour vows return to tax credits as R&D spending slips

Wed, 08 Apr 2015

by Fiona Rotherham April 8 (BusinessDesk) - Labour’s finance spokesman Grant Robertson said Labour would look to boost its policy on research and development tax credits because the current government wasn’t doing enough to shift the dial on business R&D spending, which continues to fall below OECD average levels. Robertson is critical of the government’s new R&D policy that allows start-ups to cash in 28 percent of tax losses for income received from the start of the 2015 financial year until they become profitable or sell the business,...

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