BPF Hobnobs at the Top

Spotted chatting during a quiet moment at last week's Conservative Party Conference were BPF Director General Peter Davis and Chancellor of the Exchequer George Osborne.
 
Peter Davis spotted an opportunity to button hole the Chancellor on the subject of shale gas. The Chancellor had just announced that a favourable tax regime was to be put in place to encourage exploration and development and Davis was quick to point out that not only would this be a massive boost to energy supply but it would also furnish potential feed stocks for the manufacturers of plastics raw materials. It's the BPF's view that a low cost and consistently available energy base would give UK manufacturing a very significant competitive edge just as shale gas availability is currently changing the fortunes of American manufacturers.
 
Davis was also able to encourage the Chancellor to make further reductions in Corporation Tax following the welcome relief given at the last budget when it fell to 24%.There is some uncertainty as to whether Osborne will maintain his promise of further cuts over three years to 22% and Davis urged him to follow through with the commitment.
 
ENDS

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Notes for editors:

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.