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- December 5th, 2013 Posted in Uncategorised

5 December 2013 – Following the Chancellor’s Autumn Statement delivered today (5 December 2013), Paul Everitt, Chief Executive of ADS Group comments on the announcements:

On the Chancellor’s Autumn Statement, Paul Everitt, Chief Executive of ADS, said:

“The Chancellor’s statement today reaffirmed the good news that recent growth is beginning to reap economic rewards. The package of measures to support business, including £50bn for Export Finance, prioritising higher level apprenticeships and engineering graduates and capping business rates, will provide much needed support for high-tech, export-led growth.

“The priority now is to support these positive measures by unlocking business investment, which is remains 24% below pre-recession levels. In 2014, the Government should seize the opportunity to build on its successful Industrial Strategies to make the UK a genuinely globally attractive location for investment, innovation and exports.”

On the additional £25bn for UK Export Finance:

“The additional £25bn for UK Export Finance is an important boost to the UK’s exporting ability. Already, the UKEF supports 23% of every aircraft exported from the UK and the significant levels of new funding will help ensure Britain’s aerospace sector remains a global leader.”

On the additional 20,000 apprenticeships and Engineering degrees:

“The additional funding for higher apprentices and Engineering graduates will help high-tech aerospace, defence and security companies have the right pipe-line of highly skilled employees needed to design and develop the next generation of high-tech exports, helping fulfill the ambitions of the Industrial Strategies to maintain our world leading position.”

On the cap to Business Rates:

“The Chancellor’s cap on business rates will be welcome relief to many small businesses, including in aerospace supply chains where rapid growth has strained cash flow. The discount to retailers should have gone further to include all companies critical to rebalancing the UK economy.”


Download ADS briefing on the Autumn Statement

For further information, please contact Jenny Szweda: