The Budget this week has focused attention on the need to drive growth in the economy. The Chancellor’s announcement on the Government’s ‘Help to Buy’ scheme stole many of the headlines but there were measures to encourage businesses outside of the construction sector.
The introduction of an Employees Tax Credit which will be used to reduce National Insurance Contributions for businesses has been welcomed as a step forward which it is hoped will help small businesses take on staff and lower costs for others. A further cut of 1% in Corporation Tax scheduled for 2015 was also announced and will help relieve the burden on business. This was the fifth cut in Corporation Tax since the coalition government came to power in 2010 when the rate stood at 28%.
The media in a wider sense is also showing interest in the prospects for the UK’s manufacturing industries. The Chairman of the MTA’s External Affairs Committee, Dr Tony Bannan, has been asked to contribute to a feature on BBC Radio 4’s You and Yours Programme between 1200 and 1300 on Monday 1 April. The feature will also include an interview with Lord Green and will focus on UK exports.
Other encouragement for UK exporters comes this week from the UKTI which is offering free business support facilities at the Hannover Messe trade fair between 8 -12 April. This is the world’s largest trade show and of particular interest to businesses in the advanced engineering and energy sectors.
Don’t forget to sign up for the MTA’s half day seminar on 23 April reviewing how SME’s with expertise in 3D printing can contribute to the automotive manufacturing supply chain. Details are in the Friday Brief story.
Have a good weekend.