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R&D tax regime should include broader range of projects

To allow claims only when the projects are "revolutionary" breakthroughs is to set too high a bar for firms that are still new in their innovation endeavour.

In 2014, the biggest R&D spenders were those that we're all familiar with, such as Volkswagen, Samsung, and Intel.

IN economic circles, it is taken as received wisdom that innovation - defined here as the application of knowledge in a novel way, primarily for economic benefit - is good. Faster innovation is even better. We can never have too much of it.

Businesses regard it as a sure-win way of...

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