'Autumn Statement Bristled with Positive Concessions for SME's' says BPF

''With a General Election less than six months away it wasn't surprising that the Autumn statement bristled with positive concessions for small and medium sized businesses in what was generally an innovative presentation” said BPF Director-General Philip Law.

Commenting on the proposals outlined by the Chancellor George Osbourne, Law said;

“The abandonment of NI for apprentices under 25 will encourage their recruitment and the promised reform of Business Rates will potentially alleviate a longstanding bugbear. The increase in the R&D tax credit will strengthen innovation.”

Stamp duty changes will, to some extent, assist the affordability of housing with the knock on effects house purchases have for pulling manufactured goods through the economy.

The BPF has its own 'powerhouse' of northern member firms and the effort made to reinforce their position and to help restore the balance with a service dominated south east is positive.

The £45 million dedicated to exports at first sight sounds substantial but it has to be spread widely across all business. Much depends on how it is applied. Trade Access Programme funding for exhibition participation is already under pressure.

I'd be disappointed if major end users of plastics considered shelving inward investment intentions or if banks tightened lending conditions even further as a result of the Chancellor's tax proposals.”


ENDS

For all media enquiries, BPF logos and images please contact Laura Hindley, Communications and Industrial Issues Executive, [email protected] or 0207 457 5043
 
Notes for editors:

The British Plastics federation (BPF) is the UK trade association for the plastics industry – representing the whole supply chain including polymer producers, distributors,  additives suppliers, machinery manufacturers, processors and recyclers.