Jablite is the UK's largest producer of EPS products for insulation and civil engineering applications

A Jablite response to the Autumn Statement

it was never likely to be a mini budget of giveaways, with the real budget due in March and UK Plc’s finances so constrained. But does it give grounds for optimism? Is the recovery still on track?
By Richard Lee

December 2014: From a business perspective it feels like, with his Autumn Statement, Mr Osborne is playing to the crowd while papering over the cracks. Here’s our response to the main provisions:

  • Stamp duty: Long overdue reform of this tax will help to generate activity in the housing market, which on current levels is needed if we are ever going to address the housing shortage in the UK. The downside is that we cannot afford it; and it adds another £1 bn to borrowing over the next 5 years.
  • Tax avoidance: long overdue. SME’s have long been an essential part of our economy and their contribution to finances compared to large companies has been disproportionate for many years. The downside is that there is no additional support on business rates which also effects SMEs more.
  • Lower interest payments and debt: This looks and feels like financial engineering. Basically putting off the problem of how to reduce the deficit to manageable levels into the next Chancellor’s hands.
  • Infrastructure: Instead of the headline grabbing large-scale projects, we need a thorough review and long-term plan on how to review our creaking infrastructure.

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