Friday 7 December 2012

The British Woodworking Federation (BWF) responds strongly to the Chancellor’s Autumn Statement

The British Woodworking Federation (BWF) has responded strongly to the Chancellor’s Autumn Statement, expressing concerns that commitment to business is being undermined by the lack of real investment in growth.

Commenting on the Autumn Statement, BWF Chief Executive, Iain McIlwee, said:

“The Chancellor missed a vital opportunity to help us understand, and give us confidence in, his vision of the future.

"To start with the positive, the fuel duty has been scrapped and the focus on competitive taxation is good news. We called for and got an increase in annual investment allowance.  Rewarding companies investing in growth is vital, but investment is about more than availability and cost of capital, it’s also about confidence. Here we remain disappointed as there is no clear indication that the Chancellor is backing catalysts for growth, and much of the promised investment seems to be diluted, or restating old promises yet to be fulfilled.

"Housing remains a fundamental socioeconomic problem, and potentially a huge stimulant for growth. The Green Deal was not even mentioned.  In the Autumn Statement we were disappointed to see more of the same from policy makers - a piecemeal approach to a housing and construction strategy where the sum of the parts may well end up being less than the whole.”

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