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Insights into uk manufacturing - the real economy

Tax and a manufacturing future

Jeegar Kakkad March 26, 2009 10:48

We published a new report this week looking at how the tax system prevents manufacturers from investing in for the long term. We've had the camcorder out again and you can watch one of the manufacturers who helped us produce the report, talking about it...

The report - A Manufacturing Future: Competitiveness and taxation in the UK - has a fairly simple message: the UK needs a tax system designed to deliver a diverse economy.

While bankers pocket proifts (and taxpayers' cash) as bonuses, manufacturers are successful because they plough every pence in profit back in to their business, in to productive, long-term investments.

Yet, the UK's tax regime continues to constrain manufacturing investment, compounding the credit crunch and limiting the extent and benefits of balanced economy.

The UK is in a funny position where the immediacy of political and economic pressures is obscuring the need for a new strategy and framework to deliver a better, more competitive and more sustainable economy in the future.

As Damon De Laszlo says in the video, the future of our economy depends, in part, politicians recognising the UK needs long-term strategy on taxation and investment.

 

Disclaimer
This is an informal blog about manufacturing and the economy written by EEF's policy and representation staff. While it is written from an EEF perspective, contributions should not be taken as formal statements of EEF policy, unless stated otherwise. Nor does it cover all the issues on which we campaign - you can check these out in more detail at our main site.

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EEF helps manufacturing businesses evolve and compete.  We provide business services that make them more efficient and management intelligence that helps them plan.  Our work with government encourages policies that make it easy for them to operate, innovate and grow.

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