UK manufacturers decry government ‘gimmicks’, want tax cuts

Published by
Reuters UK

LONDON (Reuters) – Britain’s main manufacturing lobby, Make UK, told the government to stop “short-term gimmicks” and cut taxes for the sector, as its members reported a significant slowdown in orders and a nose-dive in investment. Make UK said it expected factory output to grow 2.3% this year – down from a forecast of 3% three months ago – and slow further to 1.7% in 2023, as manufacturers battled surging raw material costs and higher staff pay demands. The Paris-based OECD forecast this month that Britain will see the weakest growth next year of any major economy other than Russia, as well a…

Read More

Leave a Reply