Britain’s number one manufacturing exporter backs science investment measures announced in the autumn statement
The Chemical Industries Association, representing chemical and pharmaceutical businesses across the UK, has backed today’s announcements by the Chancellor, aimed at supporting science investment across the UK.
Responding to the autumn statement, Steve Elliott, CEO welcomed the specific measures in support of manufacturing and chemicals: “The increase in R&D tax credits, the financial commitment to new research facilities including high value manufacturing, and the support for shale gas are all very positive signals that will be seen by our sector as further reasons to invest in the UK. It’s a pity the Chancellor could not go a step further and bring forward the compensation package for energy intensive industries, but let’s hope there is good news on this front in his next budget.”
More specifically, the Association has also welcomed the £28 million for a Formulation Centre to design new products across numerous sectors by combining different gases, solids or liquids – a key pillar of the Chemistry Growth Partnership’s work programme.
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Chemical Industries Association (CIA) is the organisation that represents chemical and pharmaceutical businesses throughout the UK www.cia.org.uk