Manufacturers' push for increased tax breaks
EEF is urging Alistair Darling to use the Budget to increase tax breaks for investment
The manufacturers’ group, EEF, is warning that the sector could face the
worst trading conditions in more than three decades unless Chancellor Alistair
Darling increases the number of tax breaks in the 22 April Budget.
The group is pushing for Darling to increase the annual investment allowance
from £50,000 to £250,000, according to
Steve Radley, EEF chief economist, said decisions on capital expenditure that
are delayed or reversed now will ‘have consequences for competitiveness come the
A recent Ernst & Young report revealed 16% of companies in the industrial
engineering sector issued a profit warning in the first quarter of this year.