The BPF's response to Autumn Statement

The Autumn Statement is good news for plastics businesses in the UK, with the continued commitment to cutting Corporation Tax to 17% by 2020. The government’s confidence that we will avoid any sort of recession and the economy will continue to grow in 2017 is also reassuring. The investment of £23bn in innovation and infrastructure over the next five years, together with a further £2bn being invested in funding R&D is especially welcomed by the UK plastics industry, as it lives or dies by its capacity to innovate and needs encouragement to pave its way towards Industry 4.0 and beyond. Infrastructure development not only opens up business opportunities for suppliers of plastic products but also provides logistical benefits for industry in general. Equally welcome is the commitment to boost housebuilding, as it is one of the traditional locomotives of the economy, prompting wider expenditure on everything from furnishings to electrical products that rely upon plastic components. Finally, we eagerly await the fruits of the commitment to double UK export finance capacity, as 80% of BPF members are exporters.

BPF Director General Philip Law

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