Budget analysis: Creation of UK tech hub welcomed
Moves announced in the Budget to create a world-leading technology hub in the UK have been welcomed.
Alongside a commitment to creating ten new super-connected cities through ultrafast broadband delivery by 2015, an additional £50million was also announced to fund a second wave of ten smaller superconnected cities.
This will be supported by corporation tax reliefs coming into effect next April for the video games, animation and high end television industries, in a move to repeat the success of the revival of the UK film industry several years ago.
Tax partner David Bennett comments: “Investment in dynamic growth sectors like gaming are key to nurturing a core of innovation in the UK as well as leading the economy into growth mode.”