24 November 2016

Autumn Statement - what it means for print

A business environment that supports competitiveness and growth for our members is always at the forefront of the BPIF's messages to Government, and achieving this was the key theme of our 2017 Autumn Statement representation, made to HM Treasury at the start of last month. As an important economic contributor and employer in all regions of the UK, and with a Gross Value Added £6.1bn for the economy, it's imperative that we have a voice in the decisions made which affect our industry. 

We're reassured by the Government's commitment to invest in Research & Development - for some of our members, being able to claim tax relief is a real incentive to explore innovative new ways of working, in turn critical for the country's overall productivity. This was a major theme of our submission to the Treasury ahead of the Autumn Statement, and we're delighted that these calls have been heard. 

Similarly, improving road infrastructure will have welcome benefits for our members up and down the country, as will the continuing freeze on fuel duty. 

However, we're disappointed that the Government has missed an opportunity to remove plant and machinery from business rate calculations. As we suggested in our representation, removing this disincentive to invest could have been a significant step towards the Chancellor's vision of ensuring that businesses are investing. 

Although growth is expected to slow next year, the print industry has time and again proved its resilience. We will do our best to ensure that BPIF members can continue to design, print and package and to run companies large and small. Print is a strong industry, which knows how to adapt to change and adversity.