Cuts show Tony Abbott has 'no idea' about innovation: Simplot

Cutting research and development tax concessions will hurt business and have a flow-on impact with the nation's universities unable to collaborate on as many projects, says one of Australia's biggest food manufacturers.

Simplot, whose food brands include, Edgell, John West, Birds Eye, Lean Cuisine and Leggos, says the government's planned 1.5 per cent to the tax break – which goes before the Senate on Wednesday – will hurt innovation.

"Bugger them," said Simplot's executive director quality and innovation, Callum Elder, when asked about the Abbott government's $810 million reduction in tax breaks for research and development.

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