incentives to corporations. Money should be spent directly on innovation rather than offeringincentives such as Research and Development tax credit. Competition PolicyCompetition in most cases is as companies strive to outdo each other innovation isencouraged, the government can help increase competition among various industries by reducingburdens associated with the administration, introducing flexibility into the labour market andliberalizing key service sectors. This will help firms to take advantage of any potential of newtechnologies. Firms that are technologically advanced offer more competition as compared tothose that do not. Training and TechnologyTraining the labor force on significant skills has been shown to have a positive effect onthe productivity of any country. When the labour force of the UK has been well trained then itwill be in a better position to compete with labour from the European Union. Through Brexit,movement of labour into Britain has become regulated and firms may find themselves atcrossroads on whether to hire foreign labour or local labour. Where local labour is well skilled,then it will be hired. This will help create a fairer society and increase the countries productivity.Investment in technology goes hand in hand with investment in innovation, with theworld becoming more globalized, information technology is playing a very big role and ispositively helping change labour productivity. Retraining of the workforce and advocating fororganizational change are important aspects of helping diffuse new technology. Technology willbring about more competitive firms and help achieve the innovation policy objectives.Finance for small and Medium Sized Enterprises

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