South: Food and Drink Federation welcomes Autumn Statement
The Food and Drink Federation (FDF) has welcomed the Autumn Statement's commitment to business growth.
FDF director general Melanie Leech said:
“It is great that the chancellor has announced measures to stimulate growth which should help the country’s largest manufacturing sector towards achieving its ambitious agenda to grow by 20% by 2020.
“Food and drink manufacturers are already strong exporters and the announcement of a £45 million package to help exporters reach emerging markets will enable us to build on our success and to take our world-class products to new markets.
“As an industry that invests heavily in the future skills of its employees, the abolishment of National Insurance Contributions for apprentices under the age of 25 should encourage even more firms to take on young people.
“However, we would welcome further incentives to support upskilling through the apprenticeship route for over 25 year olds and to route apprenticeship funding directly to employers.
“FDF also welcomes the increase in R&D tax credits for small and medium-sized companies to 230% and for large firms to 11%. Innovation is the lifeblood of the food and drink sector and these measures should provide a significant boost to a sector which is characterised by its vibrant SMEs.”
www.fdf.org.uk
