Skip to main content

Commenting on the Chancellor’s Comprehensive Spending Review, James Selka, MTA CEO

Commenting on the Chancellor’s Comprehensive Spending Review, James Selka, MTA CEO said:

“This was a Spending Review with some welcome commitments but also with some concerns for manufacturing. On the positive side of the ledger it was reassuring to hear that the Chancellor remains committed to Industrial Strategy and that the sums to be invested in the aerospace and automotive are to be protected. But the size of the apprenticeships levy, at 0.5% of payroll for all firms paying more than £3million, is a significant cost and manufacturers will need to be convinced that the gains, in the form of better training provision, will be worth it. We also have concerns about moving funding for innovation away from grants towards loans, which risks damaging the UK’s competitiveness.”