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Burnley MP backs boost for industry
1:09pm Wednesday 3rd October 2012 in News
BURNLEY MP Gordon Birtwistle has backed a new manufacturing campaign.
The new group brings manufacturers together with government to ensure that British manufacturing plays a key role in the country’s economic recovery.
He said: “The Lib Dems in government have already delivered a number of key policies to support manufacturing, but we have to do more if we want the sector to play a key role in the economic recovery.
“We need to be making more in Britain, and we need pro-active policies that increase industrial capacity, and create new jobs.”
A key initiative that the group will be promoting over the coming months is the introduction of a 100 per cent capital allowance on all capital purchases for a fixed two-year period.
This will encourage companies to draw on substantial cash reserves to invest in new capital assets, rather than sitting on reserves or delaying or shelving investment decisions.
It provides a short term financial incentive by allowing capital investment to be paid for completely out of profits.
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