THE Engineering Employers' Federation in the North-west has welcomed Chancellor Gordon Brown's announcement of a consultation on an extension of Research and Development tax credits.
External Affairs Manager Andrew Semple said after the Pre-Budget statement: "The Chancellor clearly acknowledged the problems faced by manufacturing in his statement.
"We are particularly pleased that he has recognised the vital importance of increasing levels of Research and Development to promote value-added production.
"EEF looks forward to working with the Treasury to develop practical proposals which can be implemented as soon as possible."
He added: "We also welcome the reforms of VAT for small businesses but would have liked him to have gone further in enhancing capital allowances.
"However, we are greatly disappointed that there were no proposed reforms to the Climate Change Levy, for example, by extending negotiated agreements.
"This would have improved its environmental impact and been more manageable for industry."
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