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Friday Brief

Good morning and welcome to this week’s Friday Brief.

The UK’s national manufacturing show, MACH 2020, might still be five months away, but anticipation is building fast and the event is already set to be one of the industry’s highlights of the year.

Members of the media gathered at the National Physical Laboratory in London for the launch of visitor registration for next April’s show. Full details found within the Brief.

We would like to remind members that the MTA AGM will take place on 3rd December at Cutlers' Hall in Sheffield. As well as the usual AGM Business, the event will have the theme of business improvement and feature talks from Margaret Wood, MBE, Chairman, ICW (UK), Christopher Jewitt, Chairman, Footprint Sheffield and Dr. Bryan Allcock, FIMMM, Group CEO, TRL9 Limited. The AGM will be followed by a 3 course lunch, for details on how to secure your place at this event please follow the link https://www.mta.org.uk/event/mta-agm-2019.

The Institution of Mechanical Engineers (IMechE) has awarded the James Watt International Gold Medal for 2019 to Sir David McMurtry, the co-founder and Executive Chairman of MTA member company Renishaw.  At a ceremony at The Museum of Science and Industry in Manchester, UK, on November 21st, 2019, Sir David was recognised for his outstanding contribution to mechanical engineering. Congratulations to Sir David from everyone at the MTA on receiving this honour.

The Conservatives have cemented their commitment to no Brexit transition after December 2020, and Labour will axe the RDEC and Patent box schemes.

The latest pointer to confidence published by the European Commission suggests a small improvement in November although this came mainly from the consumer and retail trade parts of the economy, with industry broadly flat.  Their bi-annual industrial investment survey showed a significant down-grading for 2019 compared to the April survey, reflecting the situation that has developed during the year – the outlook for 2020 is modest but with a mixture of trends between countries.  Profitability of UK manufacturing companies continues to fall and is now at its lowest since the end of 2016.  Finally, an economic report on the European industry is available for members form the recent tooling group meeting held by CELIMO.

That’s all for this week we’ll be back next Friday with more industry news and views until then have a great weekend, from everyone at the MTA.

Inspiring, innovating, connecting – MACH 2020 now open for registration

The UK’s national manufacturing show, MACH 2020, might still be five months away, but anticipation is building fast and the event is already set to be one of the industry’s highlights of the year.

MACH is the longest-running manufacturing and engineering exhibition in the UK, showcasing the largest variety of manufacturing technology solutions in the country, all under one roof. Taking place at the NEC in Birmingham between 20th – 24th April, MACH 2020 is set to be one of the best exhibitions in the event’s long history.

National Physical Laboratory hosts MACH 2020 Launch event

National Physical Laboratory hosts MACH 2020 Launch event

The National Physical Laboratory (NPL) is pleased to host the launch event for MACH 2020. MACH 2020 is an important event in the manufacturing technologies community, bringing together customers and providers of machining innovation from across the world and providing the platform for attendees to share expertise and explore ways of working together.

Tax credits an election battleground

Tax credits an election battleground

Corporate tax credits have become one of the significant battlegrounds in the general election, albeit less widely reported. The Conservatives pledge a slight increase in the RDEC (Research and Development Expenditure Credit) to 13% and to review of definition of R&D so that it encompasses data/cloud expenditure that is invested in innovation.

Labour, by contrast, pledge a review of corporate tax reliefs and specifically the scrapping of RDEC and the Patent box relief.

Conservatives strengthen end-2020 Brexit deadline

Conservatives strengthen end-2020 Brexit deadline

The Conservative Party has pledged in its election manifesto that there will be no extension of the Brexit transition period beyond 2020, prompting renewed fears over the terms under which the UK will leave the EU.  A 1-to-2 year extension is possible under the new Withdrawal Agreement but would have to be agreed by July 1st 2020.  The concerns over the Tory pledge are captured in an article here: https://www.theguardian.com/politics/2019/nov/25/johns

Renishaw’s Sir David McMurtry awarded James Watt Gold Medal

Renishaw’s Sir David McMurtry awarded James Watt Gold Medal

The Institution of Mechanical Engineers (IMechE) has awarded the James Watt International Gold Medal for 2019 to Sir David McMurtry, the co-founder and Executive Chairman of global engineering company, Renishaw. At a ceremony at The Museum of Science and Industry in Manchester, UK, on November 21st, 2019, Sir David was recognised for his outstanding contribution to mechanical engineering.

ECONOMIC DATA THIS WEEK

ECONOMIC DATA THIS WEEK

European Commission Economic Sentiment Indicator & Investment Survey, November 2019:  The European Commission’s (EC) Economic Sentiment Index (ESI), which is constructed from a combination of 5 sector confidence indicators, increased a little in the Euro-zone and more strongly in the EU28 in November.  In the Euro-zone, this was mainly driven by improvements in confidence among consumers and the retail trade sector which outweighed a sharp fall for construction, while industry and services increased only marginally.  For the EU28, confidence in the services sector impro