British Glass Responds to 2015 Budget

British Glass Responds to 2015 Budget

The British Glass Manufacturers’ Confederation broadly welcomes yesterday’s Budget announcements – particularly the positive measures to boost the economy and investment in industry.

The Budget sets the tone for enabling stability and growth with encouraging measures such as the reduction of Corporation Tax to 20% next month, continuation of the Annual Investment Allowance, supporting regional economies through growing the ‘Northern Powerhouse’ and scrapping National Insurance for Apprentices, which should go some way to encouraging more SMEs to employ apprentices.

We also welcomed the measures announced to put apprenticeship funding in the hands of employers via the new digital apprenticeship voucher model. However, we need further information on what this will involve, when it will be introduced and assurances that the new system will not add additional administrative burdens or bureaucracy for SMEs.

After supporting the Wine and Spirit Trade Association (WSTA) and Scotch Whisky Association (SWA) campaigns to ‘drop the duty’, we were pleased to see the Chancellor’s announcement of a 2 per cent cut in spirits duty and a freeze in duty for wine, with the changes expected to save the wine and spirits industry £100m in new tax liabilities.

We also welcomed the Chancellor’s decision to bring forward compensation for energy intensive industries, such as the glass sector. However, we would like to see the full package put in place as soon as possible and there is still an absence of a 50-year energy security plan which adds to uncertainly for industry – Government should look to take a more long-term view here.

We were further pleased to see that a new package of measures was announced to improve the accessibility of R&D tax credits for smaller businesses – this should bring more businesses into the scheme and encourage investment in innovation.

Overall, we think this was a generally positive, if slightly ‘safe’, Budget, geared towards continued economic growth.
 

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On average, every family in
the UK uses around 330 glass
bottles and jars each year.


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