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Treasury offers potential investment for creative sector
By Robert Ashton
Bearing gifts? Chancellor Alistair Darling stated that the Government will examine the tax system for intellectual property and other "innovative activity"
The music industry welcomed last week's budget, which underlined the Government's commitment to creative businesses with a raft of measures that could provide tax breaks on royalty income.
On top of that, Chancellor Alistair Darling set aside an additional #10m funding for the Government's international business development organisation, UK Trade and Investment, which works closely with the BPI and AIM.
And a whopping #2.5bn has been earmarked for business to encourage investment in industries and jobs for the future.
Chancellor Alistair Darling said in last Wednesday's budget, "The Government will examine the balance of taxation of innovative activity, including intellectual property."