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Welcome for manufacturing boost in Budget

25 March 2011
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Welcome for manufacturing boost in BudgetPlans in the government's budget to boost spending in skills, technology, research and development within the manufacturing sector have been welcomed.

Comments made by EEF, the manufacturers' organisation may be of interest to operations management professionals, with the body claiming the importance of ensuring the UK's success on the international stage by removing barriers to investment has been acknowledged by ministers.

However, EEF chief executive Terry Scuoler warned: "Despite the encouraging measures on investment, the significant rise in energy bills threatened by the carbon price floor is unwelcome."

In his 2011 Budget speech to the House of Commons, Mr Osborne stated the government wants "to encourage manufacturers to invest in the latest machinery and technology".

He proposed doubling the current capital allowances for short life assets to eight years and extending the current permit for the renovation of premises in assisted areas by a further five years.

In addition, he revealed the UK will become the first country in the world to introduce a carbon price floor, which will come into effect from 2013.ADNFCR-3058-ID-800476463-ADNFCR
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