New technology could triple UK trade by 2050 KPMG says web

New technology could triple UK trade by 2050, KPMG says

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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