Composites UK Backs Support for UK Manufacturing

Everyone at Composites UK were delighted with the news that after lengthy discussions between Make UK and the Chancellor, the Treasury has announced a package of support for UK manufacturing worth £4.5bn.

As well as this, Composites UK were a signatory on Make UK’s letter to the Chancellor asking for full expensing to be made a permanent feature of the UK tax system in the Autumn Statement. Analysis, shows the significant impact introducing full expensing could have on UK business investment. Whilst there is an upfront cost, the long-term benefit to the public finances will be positive as providing allowances up-front enables greater investment, boosting employment and wider tax revenues.

You can read the full letter on Make UK’s website, here.

We will keep our members informed in due course regarding this and all matters pertaining to the UK composites industry and as always, will champion the cause for composites globally. Without composites, there is no net-zero!

Prof. Alan Banks,
Chairman, Composites UK