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The Chancellor’s statement in brief

• £200m investment in science capital projects, including: £80m for the next phase of development at the BBSRC’s Institute of Animal Health laboratory at Pirbright; £62m for research council capital investment; £25m for large-scale demonstration projects; £20m for satellites; £13m on scientific computing infrastructure.

• An “above the line” R&D tax credit to be introduced in 2013 to encourage larger companies to spend on R&D.

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