Technology

Neil Pamplin, tax director at Grant Thornton says, "This PBR unveiled the Government's plans to provide additional support to the technology sector at a time when the industry is feeling the effects of the economic downturn hand is in need of a vital boost."

The initiatives will be in the form of research, development, demonstration and deployment (RDD&D), which will include the following:

Research Councils are supporting £300 million of energy research and postgraduate training over the Comprehensive Spending Review period, including large multi-disciplinary research projects

The Technology Strategy Board, established by the Government, stimulates innovation through a range of activities, such as funding a £100 million low carbon vehicle programme

The Energy Technologies Institute, a partnership between the Government and industry (including BP, Caterpillar, EDF Energy, E.ON UK, Rolls Royce and Shell) aims to raise £1.1 billion over the next 10 years for applied research and development projects such as the £60 million ‘Offshore Wind’ and ‘Wave and Tidal Stream’ energy programmes;

The Carbon Trust recently launched their Offshore Wind Accelerator Programme that aims to cut the cost of offshore wind energy

The Energy Saving Trust promotes energy efficiency in the domestic and public sector, providing technical support for innovative energy efficiency projects across the UK

The £400 million Environmental Transformation Fund focuses on demonstration projects and the pre-commercial deployment of low carbon technologies, for example, project support for biogas generation from organic waste decomposition