Institute of Physics response to Budget for Growth

24 March 2011

The Institute of Physics (IOP) has responded to the Chancellor’s 2011 Budget announcement today, Wednesday, 23 March.

John Brindley, Director of Membership and Business at IOP, said, “The measures announced today will help create a commercial environment suitable for the growth of high-tech physics-based businesses.

“The increase in the tax credit for small companies’ research & development, and the commitment to simplify the tax regime, will help make the UK a more attractive place to begin and grow an innovative business.

“There is a vital link between the health of our research base and the strength of our science-based businesses, and nowhere is this more evident than in the science parks situated across the UK.  We welcome the Government’s commitment to these centres of innovation, such as Harwell and Daresbury, and the additional £100 million they have made available to them.

“Our business members’ greatest concerns remain to be too much red tape, the availability of finance to help new businesses grow and stay in the UK, and access to our strong research base for both people and knowledge.”

For further information on what IOP’s business members would like to see from Government to help economic growth, go to http://www.iop.org/policy/briefing/file_50325.pdf