The Financial Secretary, Victoria Atkins MP, visited NETPark on 29 September to see how businesses are using full-expensing and R&D tax relief to help them grow.
The minister met with representatives of Durham County Council and business leaders at NETPark, one of the UK’s leading science and technology parks, who support hundreds of jobs and over 40 companies and institutions, including leading innovators across health, cyber and space.
Minister Atkins stopped off at Kromek, who produce high performance radiation detection technologies. Kromek CEO Dr Arnab Basu took the Minister on a tour of the factory floor where they saw from start to finish how radiation detectors used in the global effort to tackle radiological and biological threats are manufactured.
R&D tax reliefs enable companies like Kromek and others in NETPark to claim back on their investments, helping to drive further growth and innovation.