Tony Toll, CEO of AIC Group, a Dorset, UK-based manufacturer of process equipment such as hot drape formers for the aerospace industry, which is just about to announce a major export contract to China, says:

We need banks to lend more to more growing businesses.
Tony Toll, CEO, AIC Group

“If the Government is to do more than just talk about growth, it needs to support manufacturing exports. The Chancellor is right – we are in a global race. AIC is exporting to China and the Far East. We need banks to lend more to more growing businesses. The Government’s business bank can’t fill the gap left by the banking industry. So it was disappointing that the Chancellor did not give any detailed initiatives to boost bank lending and though he did talk about this, he, along with his predecessors, has been talking about this for some time with little to show for it. That’s the only way we will secure growth.”

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Michael Last, Managing Director of Formpalex, a Portsmouth, UK-based company  which has just opened a new 47,000 ft2 factory to cater for increasing demand in automotive, F1 and aerospace tooling and component manufacture, says:

If Government play their part, we will continue to expand and recruit more full time, highly skilled, permanent jobs.
Michael Last, Managing Director, Formpalex

“Advanced manufacturing is seeing huge growth and British companies have the opportunity to lead that growth. The Government has helped by increasing capital allowances. However the Chancellor can take an extra step by allowing companies to write off against tax 100% of capital expenditure in the year the expenditure occurs. This would be a real and simple way to support British industry at such a critical time. If Government play their part, we will continue to expand and recruit more full time, highly skilled, permanent jobs.”

For more information about Formaplex see:

 


For an outline of the key points of the UK Budget take a look at the BBC report: Budget 2013 at a glance: George Osborne's key points.