UK Chancellor of the Exchequer Reeves: World-leading capital subsidies will continue to be provided, including full deductions and investment subsidies of £1 million a year. The current R&D tax exemption rate will be maintained to support innovation. We are creating a national wealth fund that will catalyze tens of billions of pounds of private investment into clean energy and growth industries. We will be vigorously developing the UK Infrastructure Bank, which will now operate as a national wealth fund.

UK Chancellor of the Exchequer Reeves: World-leading capital subsidies will continue to be provided, including full deductions and investment subsidies of £1 million a year. The current R&D tax exemption rate will be maintained to support innovation. We are creating a national wealth fund that will catalyze tens of billions of pounds of private investment into clean energy and growth industries. We will be vigorously developing the UK Infrastructure Bank, which will now operate as a national wealth fund.