In a free market economy this will encourage alternate sources of procurement, maybe another EU/non EU country, and God Forbid, it may even encourage local UK manufacture. Everything is changing.Manufacturers that source materials from the EU are still struggling - one that I won't name for professional reasons told me only this week that German parts that are vital to their high-end product lines are becoming increasingly difficult to get. They have yet to find a UK company that can make them to the required standards.
In a free market economy this will encourage alternate sources of procurement, maybe another EU/non EU country, and God Forbid, it may even encourage local UK manufacture. Everything is changing.
It is hitting both sides then, the German suppliers can't sell their goods if we can't buy them.They are out - and wagging.
The Great British Brexers thought it would be wise to paralyse the supply mechanism.
And the foreign manufacturers have to find new customers.Yeah, that's lovely. In the meantime, more British businesses suffer while we're all trying to find these amazing alternative suppliers.
Joy.It is hitting both sides then
In a free market economy this will encourage...
I'm a UK manufacturer. Brexit has created challenges, but nothing that's been insurmountable.Yeah, that's lovely. In the meantime, more British businesses suffer while we're all trying to find these amazing alternative suppliers.
I'm a UK manufacturer. Brexit has created challenges, but nothing that's been insurmountable.
Covid has had far more of an impact on our customer's confidence to invest.
Rishi's tax breaks on capital equipment are boosting our enquiry and conversion rate no end.
Chuck that phone in the bin and see how far you get building your UK exclusive phone.God forbid we should actually manufacture our own products.
Especially when Chinese products are such high quality.
Its brought forward investment that we would make for two reasons.The superdeduction break? Has that brought forward investment that you would have done or has it spurred new investment that you would have likely not done without the extra tax breaks?
Its brought forward investment that we would make for two reasons.
We're going to buy a new cnc punch machine at a cost of ~£350k. We would have done it at some point in the next 5 years, but we're going to do it now because of the tax break and we need to order now because the machine is on a 9 month lead time and the tax break is significant. Out of interest, we've chosen a Japanese machine over a Swiss or German machine, mainly because of the superior features.
However, the second reason that we've got the confidence to spend the money is because our customers have also got the confidence to start investing earlier in our products which also count as capital investments and at a higher price point that they would have done without the tax incentive.