Clause 52 - Tax relief for expenditure on research and development
Finance Bill
5:30 pm
Mr Howard Flight (Arundel and South Downs, Conservative)
I support the comments of hon. Members. I shall add one specific and separate point on improving R and D performance. We could reconsider patent law and have a two-stage patent arrangement. The first stage would take products up to the point of licensing, and the second would deal with specific needs thereafter. That would be particularly valid to the pharmaceutical industry. In the round, we want measures that will increase R and D activity here rather than overseas. As well as tax incentives, the relative attractions of patent law are important.
The Paymaster General (Dawn Primarolo): I shall make a few brief remarks, but the debate on these amendments should tease out in more detail many of the points raised by hon. Members.
I welcome the positive comments from the hon. Member for Kingston and Surbiton (Mr. Davey). They echo comments by the Society of British Aerospace Companies, the Confederation of British Industry and the Federation of the Electronics Industry, to mention but a few.