Jack Semple, Secretary of EAMA (the Engineering and Machinery Alliance, of which MTA is a member) has prepared a summary of the Chancellor’s Spring Statement and you can download this below.
He takes a look at the context of the statement – very much not a “Budget” as the Chancellor is very keen to get back to only one of these each year in the Autumn – as well as the various measures that were announced.
These links take you to the statement, the Chancellor’s tax plan and how to claim the employment allowance which enables small businesses (broadly those whose National insurance liabilities are less than £100,000 per year) to reduce their liability.
- https://www.gov.uk/government/speeches/spring-statement-2022-speech
- https://www.gov.uk/government/publications/spring-statement-2022-documents/spring-statement-tax-plan
- https://www.gov.uk/claim-employment-allowance
We are also interested in your feedback especially with regard to what the Chancellor should be doing to promote manufacturing and what he should announce in the autumn budget to support business improvement, capital investment and skills. These areas were clearly flagged as points of discussion and in the coming months we (both MTA and EAMA) will be developing some proposals to feed into the process for the Budget in the autumn. Please send any comments you have to Jack Semple (email: [email protected]) and, if possible, please copy them to Geoff Noon at MTA (email: [email protected]).