The British Phonographic Industry has appealed to the Government to have the recording industry’s search for new music talent included in the Government’s research and development tax credit scheme.

It was announced by the BPI that it spends £200m, the equivalent of 17% of its turnover on A&R (Artist & Repertoir), which is the discovery and development new music; which according to the BPI is a higher proportion than industries such as the aerospace and computer industries.

According to Reuters, the Executive Chairman of BPI, Peter Jamieson said:

We believe the time is right for government, together with industry, to consider closely a tax credit regime for A&R, which is the music business' research and development,

Such a system would create incentives for greater investment in our industry, and would put the development of British intellectual property on the same footing as in other industries.