The Society of Motor Manufacturers and Traders celebrates as the U.K. government announces a change to the research-and-development tax-credit system, sealing a victory for the automotive and broader manufacturing sector. Chancellor of the Exchequer George Osbourne’s announcement comes after a campaign by the SMMT and the Engineering Employers Federation (EEF) to have the credit process revised. A government transcript of Osbourne’s Autumn Statement – a sort of mini-budget – shows him ...

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