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Life sciences industry criticises MPs over R&D tax credits

A major association representing life science organisations in the UK has come out in defence of tax credits after questions were raised about their cost and usefulness.

On 12 September, the House of Commons Science and Technology Committee called for more analysis of the R&D tax credits scheme, on which the government has spent more than £20 billion since 2000.

“It is popular and widely supported, but often this support is from those who have benefited from its generosity or focus on the quantity rather than the quality of support,” said the committee in a report on the balance and effectiveness of research spending.

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