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The Chemical Industries Association says measures announced are posiitve news for chemical businesses, but could it be too late?
Steve Elliott Chief Executive of the Chemical Industries Association said:
“It is long overdue, but this package of measures is positive news for chemical businesses.
In particular, we warmly welcome full expensing being made permanent. It is of significant benefit to capital-intensive sectors such as chemicals, and I hope the longer-term certainty and incentive leads to more investment in this country.
The complete adoption of the Harrington Review recommendations on attracting more foreign investment should give a further boost to capital intensive industries such as chemicals. In our view, the recommendations encouraging a more proactive, joined-up and, frankly, professional UK approach to winning investment, apply equally to domestic opportunities as they do international.
Additional monies for apprenticeships, and the extension of investment zone/freeport incentives all add to the good news. So too, do the extension of the CCA scheme, relief support for Carbon Capture and Storage and extra funding for Innovate UK. We also look forward to the promised confirmation on policies encouraging investment in recycling technologies.
All of these measures are parts of what ought to be a fuller UK Industrial Strategy, let’s have one”.
ENDS
To speak to Steve please contact Simon Marsh on 07951 389197.