Sudden U-turn -- UK government not so bad after all

Following the IPKat's previous post, he has been deluged with emails telling him that the taxation of patent income at 10% is a good thing, not a bad one, since the current level of taxation under Corporation Tax is 28%. The Kat was under the impression from the first bits of news he received that the 10% was in addition to, rather than instead of, the current tax.

Thanks to the very many of you who have emailed, posted comments etc.
Further news of the pre-budget report can be retrieved from the Olswang Budget Blog here.