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The Budget 2014: Duo's Verdict

Yesterday's steady budget and one which highlighted the contribution manufacturing is making in the UK was welcomed by Duo's managing director David Brimelow.  

Speaking at the BudgetLive North West in association with Hursts, NW Insider and GM Chamber of Commerce David said on the announcement:

Supporting Manufacturing

For us, it is good news that the Chancellor has outlined his intention to champion manufacturing throughout the whole country, not least because the North West has a long and distinguished history as the manufacturing backbone of the country. We're particularly pleased he has highlighted manufacturing as the key industry to aid the UK's economic recovery. Following on from the EEF research findings (published on Monday), our Q1 results were very positive and this has been reflected in the manufacturing industry as a whole. To support and prepare for growth, last year we invested £1.2m in new machinery and our plan is to continue this investment throughout 2014.


Reduction in Energy Costs

Reductions in energy and operating costs will help make it easier for us to continue to finance our business and to grow. We are not just investing in plant and equipment but also in our people; we intend to up-skill our existing workforce, ensuring the skills needed for manufacturing remain in the UK.

Exports 

As a business that operates in the exports sphere we also welcome the doubling of lending for export finance to £3 billion and cutting interest rates by one third.

Pensions

We are pleased the government is encouraging pensions - when we say we're a family
business this extends to our employees and we want them to remain with us until they draw their pensions and have a good life after Duo.


 Budget Live 2014

 

 

 

 

 

 

Published: 20/03/2014

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