22nd March 2012
UK Budget’s support for Life Science Industry
by Rhodri Evans, Western Mail Mar 22 2012
Business leaders yesterday welcomed the cut in corporation tax, but voiced disappointment over the lack of infrastructure investment for Wales in the Budget.
Iestyn Davies, head of external affairs for the Federation of Small Business in Wales, said: “There were no great surprises in the Chancellor’s Budget but we welcome some of the opportunities that should emerge.
“The increase in personal tax allowance should put more money in the pockets of ordinary people who, we hope, will spend with businesses in Wales.”
Port Talbot-born biotech entrepreneur Professor Sir Christopher Evans welcomed the support for the biotech industry in the Budget.
“I was delighted to see the Chancellor’s strong support for UK life science in the Budget, in particular his proposed tax breaks for new medical patents is simply excellent as this will substantially increase overall investment into important new clinical medicines,” he said. “He should be applauded by our biotech sector and we look forward to more constructive initiatives like these.”