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The BPF to highlight UK economic disadvantage

March 16/2011

(British Plastics Federation) -- The BPF (British Plastics Federation) coordinated Seven Association Alliance has written a hard-hitting letter to the Chancellor, George Osbourne, highlighting a myriad of issues currently placing the UK Manufacturing industry at an economic disadvantage and putting forward proposals to the Chancellor of the Exchequer ahead of the forthcoming Budget on 23rd March 2011.


According to industry, high taxation and burdensome regulations have placed the UK at a competitive disadvantage and created a barrier to inward investment. Results from surveys with member firms indicate that a majority of companies predict an increase in UK sales turnover this year. However the volume increase is about a third less due to the need for companies to pass through raw material prices increases.


The Alliance pointed out that another barrier to rapid industrial recovery and competiveness of the manufacturing industry is the high level of fuel duty; the UK has the highest diesel fuel duty in the EU and the price increase to 5p a litre in April would present another block on our competiveness. They strongly urged the Chancellor to cancel the April duty increase.


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