Schneider Electric's views on the Autumn Statement
Author : Kristin Baker, Schneider Electric
13 December 2023
Kristin Baker, VP Industrial & Process Automation UK & Ireland, Schneider Electric
“This Autumn Statement provides a good deal of welcome news for our sector, which, above all else, has been consistently calling for a stable investment environment for some time," comments Kristin Baker, VP Industrial & Process Automation UK & Ireland, Schneider Electric.
By making full expensing a permanent measure, UK manufacturers now have the certainty they need to invest in mid-to-long-term measures that will enable them to capitalise on digital transformation initiatives, helping them to become more productive, profitable, sustainable, innovative, and internationally competitive. Permanent full-expensing may well prove to be the most important government announcement relating to manufacturing in a generation.
"This headline measure will do much to improve the outlook of UK industry and is further supported by measures to increase the number of engineering apprentices and highly targeted investment in advanced manufacturing, green energy, and green industries. Each of these measures will be welcomed by UK industry, and could help the UK to fulfil its potential as a world leader for the technologies, skills and applications of the new energy landscape while promoting the digitally driven decarbonisation that is vital to making the world more sustainable.”
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