James Selka, The Manufacturing Technologies Association’s chief executive, commented:
“We welcome the growth in the economy that is evident this year. Advanced manufacturing has been in a position of strength for some time now, with the MTA’s own data showing that consumption of industrial tooling this year is likely to be some 10% above the levels achieved immediately before the Recession. That reflects widely recognised growth in the output of the aerospace and automotive industries but it is also evident across the wider advanced manufacturing landscape.
“We welcome the Chancellor’s announcement of extra funding for the High Value Manufacturing Catapult to meet additional demand and crucially to provide outreach and technical support to SMEs. That was a key ‘ask’ of the MTA’s Autumn Statement submission and we believe is necessary to help unlock the potential of the UK’s SME manufacturers. We also welcome the uprating of the R&D Tax credit for both large and small firms but will want to be reassured that the credit’s scope for manufacturers is protected.
The many manufacturers who offer apprenticeships will also welcome the Chancellor’s move to remove National Insurance Contributions on Apprentices – making bringing young people into manufacturing a less costly prospect for employers.”
