UK Spring Budget: Government trumpets improved tax relief scheme for ‘R&D-intensive SMEs’

U.K. Chancellor Jeremy Hunt went a small way toward addressing concerns over proposed research and development (R&D) tax credit cuts for small-and-medium sized enterprises (SMEs). But he stopped short of the u-turn some had hoped for following the Government’s Autumn Statement last November.
Today’s announcement came as part of the U.K.’s Spring Budget, where Hunt revealed a number of investments into the technology sector, including plans for a £1 million annual AI prize, quantum investments, and a new £900 million ‘exascale’ computer.
‘R&D-intensive’
The

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