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I would very much question the "hard evidence" as most corporate R&D is applied research (not linked to future innovation) rather than basic / core research (linked to future innovation) ...
... the only other problem is that a lot of what is "claimed" for as R&D is hardly R&D i.e. building a software project.
It would be far better to cut off R&D tax credits (companies will still invest in applied "R&D" in order to compete) and instead direct the money to Universities where actual core / basic research is done.
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