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Budget Day November 6th

– MTA urges tax reform

MTA has responded to the announcement that Autumn Budget Day will be on Wednesday, November 6th.  Chief executive James Selka has written to the Chancellor, Sajid Javid, to reprise policies we would like him to adopt. These include setting the Annual Investment Allowance at £1 million on a permanent basis, rather than as a temporary measure, and raising the rate at which the writing down allowance is set for digital technologies.

We have asked that the R&D tax credit system be amended to take better account of the process innovation in digital technologies; and we have called for reform of the business rating system, which currently can be a disincentive to investment in plant and machinery.

Giving strong support for the Made Smarter initiative, we have urged confirmation of funding beyond the North West pilot.