Section highlightLand Transaction Tax
Land Transaction Tax will replace UK Stamp Duty Land Tax in Wales.
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Written Statement - Announcement of an Enhanced Knowledge Transfer Partnership Programme in Wales
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Edwina Hart, Minister for Business, Enterprise, Technology and Science
This Statement advises Members of my intention to introduce an enhanced Knowledge Transfer Partnership (KTP) programme in Wales, allowing Welsh Businesses to participate in international knowledge transfer projects.
The existing Knowledge Transfer Partnership programme has successfully facilitated the transfer of knowledge and ideas between Welsh businesses and Higher and Further education institutions. A recent review of the effectiveness of the scheme has shown projects in Wales to deliver outstanding results and demonstrate excellent value for money. It also showed Wales to be one of the most successful areas of the UK in terms of percentage share of projects and their impacts.
My proposal for an enhanced programme will build on that success and allow key companies in Wales, particularly the anchor companies and their associated supply chains, to engage at high level with their international offices and overseas academic institutions. The Chief Scientific Adviser for Wales is supportive of this approach and confirms that this enhancement is fully in line with the science and innovation strategy in Wales.
We will build on our existing excellent relationship with the Technology Strategy Board (TSB) and set new criteria for the support of the enhanced KTP projects in Wales. Increased resources will be provided and we shall be using the tried and tested governance and delivery procedures of the TSB which will allow us to begin offering the scheme immediately and ensure that only the highest quality projects are supported.
The enhanced KTP projects will be of three years duration at a PhD level and will help enhance Wales’s international reputation as a location for high quality collaborative R&D. The anchor companies will benefit from high level of knowledge transfer that will accelerate applied research, embed innovation and enhance business and specialist skills of recently qualified graduates.