Using the tax system to support research and development has become a very popular policy tool. Many countries are implementing incentives such as tax credits, patent boxes and direct subsidies to stimulate new R&D. But is there really a causal relationship between these policies and the R&D spending done by the businesses receiving the incentives? And if so, is this R&D productive, and does it have an impact on the wider economy?
For our third lunch debate, we are delighted to present the latest research into this area, from Saïd Business School at the University of Oxford. We bring together the authors of the research with experts from government and business to ask: is there an optimal policy mix for incentivizing R&D?