The EEF made the plea following a 15% drop in investment in the sector in 2002. It also claims that growth in 2003 will not come close to the 3% predicted by the government.
In its submission paper, the EEF calls for 100% capital allowances for small manufacturing firms, wider discounts on the controversial climate change levy for ‘clean’ companies and a resolution of employers’ liability insurance.
EEF director Martin Temple said: ‘While Britain’s manufacturers are pulling out all the stops to be ready for economic upturn, increasing costs of tax and regulation and growing uncertainty are constraining vital investment decisions.
‘In these circumstances, the chancellor must not add to manufacturers’ costs. He must also take the opportunity to introduce measures to build confidence and support investment decisions vital to our future growth.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states