Petition Support UK Manufacturing

We call on the government to introduce 100% capital allowances for a fixed period of two years in order to increase UK manufacturing capacity and support economic growth.

This will encourage manufacturing companies to draw on substantial cash reserves to invest in new capital assets, rather than sitting on reserves or delaying or shelving investment decisions. It provides a short term financial incentive by allowing capital investment to be paid for completely out of profits. The Treasury will see a reduced corporation tax income from manufacturers for a 2 year period, increased income after that, and increased PAYE income from the additional employment that comes from a growing manufacturing sector.