Chancellor Rishi Sunak presented a bumper budget today in the House of Commons, announcing a number of new business-focussed policies designed to incentivise growth and investment.
Commenting on the announcement , David Nicklin, managing director at Nicklin Transit Packaging, says:
“Despite trading conditions showing some signs of slowly returning to stability, manufacturers continue to face multiple financial pressures in the form of materials shortages and price rises, alongside ongoing supply chain challenges and red tape caused by the Brexit process.
“As we continue to recover from the pandemic, manufacturers will need all the support they can get to invest in personnel, alongside process automation and other technologies to improve efficiency and productivity, so today’s support for apprenticeships and the ‘Super Deduction’ scheme designed to incentivise business investment and growth will go down well.
“News that corporation tax will rise over the longer term is hardly surprising given the wider public finances but it is encouraging that there will be measures in place to minimise the impact on smaller firms.”