BPF responds to Autumn Statement

Date: 22 November 2023

 

The British Plastics Federation welcomes the focus on manufacturing growth made during the Autumn Budget Statement by the Chancellor of Exchequer...

'As we have frequently pointed out to government and parliamentarians, the contribution which the plastics industry can make in providing high quality employment opportunities in the levelling up regions is immense.

We applaud the proposals to increase the number of engineering apprenticeships, support for house building and the positive response to the Harrington Review of Foreign Direct Investment. Historically the UK plastics industry has benefited from investment by major users of plastics products.

Support for the £4.5bn package for advanced manufacturing and green industries most definitely should apply to the plastics industry and the BPF will wok alongside government to ensure that we are included in these packages!

Making full expensing permanent demonstrates the government’s long-term commitment to encouraging investment by businesses. We are aware that nearly half of our members have already taken advantage of the scheme and many will welcome today's announcement.

Whilst we welcome the transformational strategy, the government did not address the need to increase funding for exporters through the tradeshow support programme for overseas trade fairs. This would have enabled UK exporters to secure considerable returns for a relatively modest outlay.'

Philip Law, BPF Director General

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'As the BPF run one of the largest sectors in the Climate Change Agreement scheme (Plastics and Packaging & Industrial film) we really welcome the announcement in todays budget to extend the Climate Change Agreement for a further 6 years.

As the scheme is run over three 24 month target periods, in practical terms this means that companies who participate in the scheme will be able to claim relief up to 31 March 2033.  

This will make a massive difference and enable companies to invest in new plant and equipment which will drive energy efficiency, productivity and assist the industry in achieving the Governments net zero target

We have been in regular dialogue with Government calling for this crucial scheme to be extended and are incredibly grateful that they have listened!'

Peter Haslop,  Technical Director BPF Energy