EEF champions industry and as a result of our campaigning for the right business environment, UK manufacturers will now:
- See a reduction in electricity bills through to 2020 due to a freeze in the Carbon Price Support rates. This will deliver a cumulative saving to industry of £2.8bn
- Gain a bigger tax break for investing in new plant and machinery before the end of 2015 due to the Annual Investment Allowance being temporarily raised to £500,000
- Have access to expanded resources to support innovation activity with the introduction of Innovation Vouchers for high-value manufacturing and a further increase in the money available through SMART grants
- Avoid additional costs as a result of the introduction of the single-tier state pension; manufacturers with final salary pension schemes will not face a 3.4% increase in employer National Insurance contributions because of the new state scheme
- Receive a tax exemption for medical treatments recommended by employer-arranged occupational health services as well as those recommended by the Health and Work Service (HWS).
To find out more about what we’re currently working on, see our current campaigns and download our Autumn update.