Reacting to today’s budget MTA CEO James Selka commented “We are pleased to see some of the announcements in today’s Budget reflecting some of the positive measures outlined in the Industrial Strategy Green Paper.
Manufacturers will welcome the commitment of £740m to fund digital infrastructure. This investment will play an integral part in switching them on to Industry 4.0 based technologies and further automating their businesses. We need fast reliable connectivity throughout the UK to power this revolution and to encourage investment in new technologies.
It is encouraging to see the Government thinking about the skills gap in technology led sectors, with funding being made available for mid-career upskilling but more needs to be done to address the massive challenges that companies face in helping their workforces to master technological change. The £40m announced for Lifelong learning pilots to look at how to do that is therefore welcome.
We welcome the recognition in the Chancellor’s speech that the R&D Tax Credit system could be an even more important driver for companies, particularly SMEs, to invest. We will continue to press Government to make the scheme as easy as possible for SMEs to access.”