IT was conspicuous by its absence from most of chancellor George Osborne's emergency budget today, although there was good news for entrepreneurs in the industry, who will see their tax free income allowance increased.
The budget failed to mention the National Programme for IT (NPfIT), the NHS Spine, ID cards or green IT. However, Osborne did announce that the capital gains tax rate of 10 per cent on the first £2m of gains will be extended to the first £5m, a bonus for many IT entrepreneurs.
He also abolished the controversial 50p landline levy, a tax thought up by Labour to pay for broadband infrastructure in rural and other poorly served places.
Instead, the chancellor said the government "will support private investment in part with funding from the digital switchover underspend within the TV license fee".
Elsewhere there was bad news for the gaming industry, with Osborne refusing to extend the 20 per cent tax break enjoyed by the film industry to makers of video game software and hardware, branding it "poorly targeted".
Detractors have said that the UK needs the tax incentives to keep talent and compete with other countries which do offer these kinds of breaks.
"Today's announcement to withdraw from introducing any relief for the video game industry will hit many businesses, but is not unexpected given the fiscal crisis and much of the economic commentary on the role of such incentives," argued Barry Murphy, technology lead at PricewaterhouseCoopers.
"The lower corporate tax rates and some of the employment tax reductions will help the sector, but the competition for global talent and investment will remain fierce."
Finally, with most government departments set for 25 per cent cuts, technology vendors in the business intelligence and cloud spaces were queuing up to try and prove that their products are the key to finding and boosting efficiencies in the public sector and doing more with less.
But we'll not repeat their marketing hype here.
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