New research from KPMG suggests UK investment in the development of new technology could see a tripling of trade levels in the next 30 years. Consultancy.co.uk notes that the UK government’s fostering of creativity emphasises innovations including Patent Box and the R&D tax credits regime, and there has been “a huge haul” of new patents in the UK. Yael Selfin, Chief Economist at KPMG, said in the context of an impending Brexit: “New technologies are all around us and . . . can help address other pressing issues facing the UK economy: the weak performance of productivity and the inequality of opportunity. In the same way a rising tide lifts all boats, a healthier pace of economic growth will go a long way to promote prosperity throughout the UK, along with active government policies to support some of the short-term casualties.”
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