Couldn’t help thinking that the DTI person that said the quote below at a meeting I attended today could do with a quick revision course on basic economics. He was speaking about a scheme intended to increase innovation in industry. He listed the benefits to the companies, individuals and other organisations involved in the scheme, then said
The main reason, of course that we, DTI, are involved is that it increases the organisation’s profits, which means more tax paid which means more money to invest in innovation.
And of course the DTI know all about investing in innovation. Hmm, perhaps leaving the organisations to spend the money themselves on innovation, rather than taxing them so that DTI can try to do it on their behalf, might be worth a try.