Sunak's tax break plan pushes UK manufacturers to invest, survey shows

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A plan by Britain's finance minister Rishi Sunak to use a two-year 'super-deduction' tax break to encourage companies to invest appears to be working, according to a manufacturing survey.

FILE PHOTO: Britain's Chancellor of the Exchequer Rishi Sunak attends a virtual press conference inside 10 Downing Street in central London, Britain March 3, 2021. Tolga Akmen/Pool via REUTERS

Make UK said almost a quarter of the companies they survey plan to increase investment as a direct response to the policy while more than a quarter plan to bring forward their investment plans. “The budget has made a clear impact on manufacturers in terms of confidence and they are stepping up their plans to invest in response,” Verity Davidge, Director of Policy at Make UK, said.

 

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