In today's Budget, the government announced that it will:
- provide £42 million over 5 years for a national institute which will undertake new research in ways of collecting, organising and analysing large sets of data (‘Big Data’). This Big Data analysis is intended to allow businesses to enhance their manufacturing processes, target their marketing better, and provide more efficient services;
- invest £74 million over 5 years in a Cell Therapy manufacturing centre and a Graphene innovation centre as part of the UK’s Catapult network to enable large-scale manufacturing of cell therapies for late-stage clinical trials, and will provide small and medium-sized companies with access to cutting-edge equipment for research and development of novel graphene products;
- provide £106 million over 5 years for around 20 additional Centres for Doctoral Training- partnerships between universities, businesses and government to research new technologies and train postgraduate students;
- following victory for the taxpayer in a case in which Mills & Reeveadvised, legislate to make it clear that partial relief from SDLT is available where a charity purchases property jointly with a non-charity. The charity will be able to claim relief from SDLT on the proportion of the purchase attributable to it.
The government will announce full details in due course.