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<p>With its long-term economic plan, this Government is committed to strong and sustainable
growth that is balanced across the economy. Manufacturing is a vital part of this,
and the Government has put in place a wide range of measures to improve the wider
business environment and support this sector, including both tax reforms and direct
support.</p><p> </p><p>This Government has reduced the main rate of corporation tax
to improve the business environment and attract investment: it is currently 21%, down
from 28% in 2010, and will fall further to 20% in April 2015. Beyond this, support
to manufacturing includes the Government committing £3.2bn to the Regional Growth
Fund, over £1.5bn of support to specific sectors through theIndustrial Strategy, £345m
to the Advanced Manufacturing Supply Chain Initiative, and over £200m to a Catapult
centre on High Value Manufacturing. In the recent Budget the Government announced
a package of measures to reduce energy bills for manufacturers and improve their competitiveness.</p><p>
</p><p>There is more to do, but the latest GDP figures and May's manufacturing PMI
are encouraging.</p><p> </p>
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