Engineer readers want to see incentives for new technology adoption, but they will obviously have to wait
We regularly run polls on our readers’ desires from Budget statements, but last week’s poll represents a first: none of the options that we suggested were announced by Philip Hammond in any form. The 255 respondents to the poll must therefore have all been disappointed. As usual, all the responses were received before the Budget announcement.
The most popular option, receiving 39% of the total votes, was for tax incentives for adoption of new technologies. Just under half of this group, with 20% of total votes, wanted to see R&D tax credits aligned with productivity. A quicker cut in corporation tax was the choice of 14%, while another 14% wanted the Chancellor to give more clarity on how the apprenticeship levy could help them. Another 13% declined to pick an option.
Do you think the Budget was a wasted opportunity? Did Hammond fail at his first big test? Does he need to update his spreadsheet? Please let us know your thoughts on this.