Budget gives a welcome boost to businesses in Lincoln

Karl McCartney MP has welcomed the announcements in the Budget that will back manufacturers and businesses in the City of Lincoln and helps them to invest and export more.

 

Measures announced in the budget to support businesses include:

  • Cutting the cost of manufacturing by cutting the cost of energy bills for manufacturers, with targeted support for energy intensive industries;
  • Doubling the Annual Investment Allowance to £500,000 - meaning almost every business will pay no tax upfront when they invest in the future;
  • Delivering the most competitive export finance in Europe by doubling the government lending available to exporters to £3 billion and cutting the typical interest rate on it by a third.

Karl McCartney MP commented: ‘This Budget is great news for businesses in Lincoln.

 

‘Manufacturers and businesses looking to invest and export will welcome measures to cut energy bills, double the tax allowance for investing and boost support for exporters.

 

‘Backing businesses is a central part of the Conservatives’ long-term economic plan to secure a better future for Britain. This Budget will build a resilient economy and deliver more economic security.’

 

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For further information, please contact Karl McCartney MP at karl.mccartney.mp@parliament.uk / 020 7219 7221.