U.K. tax breaks for entrepreneurs

OXFORD - Britain's bioindustry was given a fiscal boost last week when Gordon Brown, the U.K. Chancellor of the Exchequer, unveiled a series of tax measures designed to encourage and nurture high tech R&D-intensive businesses.

"Because for too long the tax system has undervalued entrepreneurship and investment, we will cut taxes on enterprise. And we will champion the needs of small business and introduce a new competition policy for Britain," he told the U.K. House of Commons in revealing his third budget...