EEF responds to the Budget

Commenting on today’s Autumn Budget EEF Chief Executive Terry Scuoler said:

"The Government's commitment to a comprehensive industrial strategy and support for manufacturing, innovation and new technology is a welcome stiffener for business as Brexit anxiety looms. The Chancellor's explicit pledge to deliver an implementation plan ahead of Brexit will reassure companies of the Government's intent, giving business certainty amid gathering Brexit jitters.

“We are delighted to see the Government's National Productivity Fund has been extended for a further year to £31 billion to upgrade Britain's economic infrastructure and the extension of the R&D tax credit increasing to 12% will boost business investment in future productivity and technological advances.

“The £5bn commitment to build 300,000 houses a year will not only benefit first time buyers but, with a very heavily integrated supply chain, it will be a boost for the UK construction sector.”