23 February 2011 19:09 [Source: ICIS news]
The commission, "Expertenkommission Forschung und Innovation" (EFI), said the introduction of tax schemes to promote R&D would create important incentive for firms.
It was regrettable that Chancellor Angela Merkel’s coalition government had not yet delivered on its promise to implement such schemes, it added.
Comparative studies had confirmed repeatedly that tax incentives were highly efficient in raising venture capital for innovative start-ups, it said. Those start-ups could, in turn, make a considerable contribution to economic growth.
It also said that
“The expert commission has given an important signal for
“We cannot save when it comes to R&D,” Romanowski said, proceeding to call on
Almost all major industrial countries were successfully promoting R&D through tax rules in order to woo investments, he added.
German private and public expenditure on R&D of €66.7bn ($91.4bn) in the 2009 crisis year was about 2.80% of the country’s GDP – up from a share of 2.68% in 2008 and 2.53% in 2007,
EFI’s full report, with recommendations on how to improve
($1 = €0.73)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|