British Glass Response to the 2014 Budget

The British Glass Manufacturers’ Confederation welcomes yesterday’s Budget announcements – particularly the focus on supporting the growth of the UK manufacturing sector through cuts to energy costs, investment in innovation for SMEs and providing further grants for apprenticeships.

However, whilst the reforms announced will ease the pressure on Britain’s energy intensive industries in general, the glass industry itself, which employs 7,000 directly in the UK and over 45,000 in the supply chain, is not deemed eligible.For example, the Government has said they will extend the compensation for energy intensive industries for the cost of the Carbon Price Floor and EU emissions trading system to 2019-2020, however, the glass industry is not entitled to benefit from this unless they widen the terms to include us.

We also welcomed the introduction of a new compensation scheme to help energy intensive industries with higher electricity costs, however, it is not clear who will benefit from this – is it the energy intensive industry or the electro intensive industry?

We were also disappointed to note that there was no mention of the consultation on changes to the glass packaging recycling business target to 2017 or of a reform of the PRN system. We were hoping to see it announced that the target would be lowered to 75%, which could in turn reduce PRN prices to a more sensible level.

On a positive note, Government thinking aligns with our own that manufacturing should be at the forefront of economic development to create a healthy, sustainable and internationally competitive industrial base. Supporting UK manufacturing through raising the rate of the R&D tax credit payable to loss making SMEs from 11% to 14.5% will encourage investment in innovation which is positive news for the sector.

600450 British Glass Response to the 2014 Budget
Date: 21 March 2014

See more news about:

Others also read

For overview analysis, the report introduces Fire Glass basic information including definition, classification, application, industry chain structure, industry overview, policy analysis, and news analysis, etc   Browse Full Report With TOC @ international and China market analysis, the report analyzes Fire Glass markets in China and other countries or regions (such as US, Europe, Japan, etc) by presenting research on global products of different types and applications developments and trends of market, technology, and competitive landscape, and leading suppliers and countries’ 2009-2014 capacity, production, cost, price, profit, production value, and gross margin.
Dubai Investments (DI) CEO Khalid Bin Kalban has revealed that the Company seeks to examine several expansion opportunities in 2015.
This report was created for strategic planners, international executives and import/export managers who are concerned with the market for nonwired glass sheets of float glass and surface ground or polished glass.
New Business to Support Company's Growing Presence in East and Central African Markets - H.B. Fuller Company (NYSE: FUL) announced today that it has signed an agreement to purchase Continental Products Limited, a provider of industrial adhesives in East and Central Africa.
"Opportunity in the Indian Glass Market - 2014 : Market size, Market share, Market landscape, Market trend analysis, Growth drivers, Future opportunity, Future forecast" provides an insight into the Indian Glass current market scenario, structure and practices.
Coinciding with the fulfillment of the ARTESUN project´s first year (November), the third Project Meeting took place at Corning headquarters in Avon, France    Funded by the European Comission through its Seventh Framework Programme, ARTESUN Project aims to develop organic photovoltaic solar cells (OPV) through the implementation of three full-scale prototypes.

Add new comment