In yesterday’s UK Summer Budget, the first Tory budget in 19 years, the Government presented technology businesses with a double edged sword; corporation tax is reduced but little has been done to correct the skills gap. The Budget promises a cut in corporation tax from 20 percent to 18 percent by 2020 and, while there was mention of an apprenticeship levy and the Annual Investment Allowance has been raised to £200,000, there were absolutely no specific benefits offered to technology companies. The Budget also failed to mention the cut in investment to electrify the railways.

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