AS16: Chancellor lends helps UK manufacturers | KPMG | UK

Autumn Statement 2016: Chancellor lends a helping hand to UK manufacturers

AS16: Chancellor lends helps UK manufacturers

Stephen Cooper, Head of Manufacturing at KPMG in the UK, comments on today’s Autumn Statement.

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Stephen Cooper, Head of Manufacturing at KPMG in the UK, said:

“At a time of great uncertainty and change for industry, the Chancellor has announced a number of positive actions to help manufacturers in the UK. Hot on the heels of the Government’s announcement earlier this week of an extra £2 billion per year on R&D, Mr Hammond has reinforced this with a new £23 billion National Productivity Investment fund. The money will be spent on housing, R&D and economic infrastructure over the next five years, which is a welcome investment that will help underpin a future industrial strategy.  

“Today’s announcements also recognise the importance of digital infrastructure, which is fundamental to modern manufacturing. The promise of new fibre networks through the new £400 million Digital Infrastructure Investment fund should help to support the industry’s future needs. As a key piece of the infrastructure puzzle, the delivery of this rollout needs to be clear, providing both reliability and resilience.

“Much needed investment in our transport and roads infrastructure is encouraging as is the doubling of support for our exporters, and continuing to prioritise these areas will help bring more confidence for life post-Brexit.”

Ends

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www.kpmg.com/uk/autumnstatement

For further information please contact:

KPMG Press officeTel:  +44 (0) 207 694 8773

Jo Chileshe, KPMG Corporate Communications

M: +44 (0)7919 211 803  

T: +44 (0)121 232 3343

E: jo.chileshe@kpmg.co.uk

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

Autumn Statement 2016

Autumn Statement 2016

The Autumn Statement took place on 23 November. KPMG's coverage is available from this hub.

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