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Beazley forced to amend chief exec’s pay after results mistake
by cityam
LOUIS GOSS tion investment just as government mounts a push to make Britain a “tech and science superpower”.
Coadec and signatories of the letter have now called on the Chancellor to scrap the plans and reveal more support in the budget coming next week.
“Government backing twinned with British entrepreneurship has built one of the best start-up ecosystems in the world, but these R&D changes put it at risk,” said Dom Hallas, executive director of Coadec.
“The planned R&D tax credit cuts will mean less money for tech start-ups, less hiring and less innovation.”
A government spokesperson said: “The government recognises the hugely important role that R&D plays for the economy and society. At autumn statement, the government recommitted to increasing R&D spending to £20bn per year by 2024/25.”
The calls come as the Federation of Small Business launched a fresh offensive against the changes yesterday, after warning last month that the potential plans risked turning Britain into an “innovation wasteland”.
BEAZLEY was yesterday forced to publish a balance sheet correction after the Financial Times spotted an error in its annual report. In its annual results statement, insurer Beazley overstated the value of its ‘net assets per share’ in reporting them at 420.8c instead of their real value 386.7c.
