|
Vacuum cleaner knight publishes “radical” proposals
Sir James Dyson advocates rebuilding of UK manufacturing & technology
In a report commissioned by the Conservative Party, Sir James Dyson has put forward his proposals for rebuilding the UK’s manufacturing and technology industries and bringing the country out of recession, based on revitalising our entrepreneurial engineering, design, technology and manufacturing base through a better system of startup funding and tax credits
The millionaire entrepreneur, who has built the Dyson empire on design, engineering and commitment to research & development, has called for tax credits which are available for R&D should be diverted away from banks and service industries and into technology startups. "Nearly 70% of the tax breaks are claimed by banks and the service industry. These should be scrapped but the ones for hi-tech development should be boosted from 140% to 200%. The Enterprise Investment Scheme, designed to encourage private investment, should, he says, be developed for the specific relief of investors in technology companies, and there should be a Government-guaranteed business loan scheme to encourage banks to lend to innovative businesses.
His report, “Ingenious Britain,” also recommends the channeling of more Government support into education in Britain’s schools and universities, with a fresh emphasis on the “real” skills of science, engineering and manufacturing which have suffered from the drift towards humanities options. David Cameron, whose Conservative Party commissioned the report, has said he will consider Sir James’ recommendations and put them under consideration for adoption as policy should there be a Conservative administration.
|
