Make UK, The Manufacturers’ Organisation has delivered a comprehensive review of the 2025 Autumn Budget
Commenting on the Budget Statement, Stephen Phipson, CEO of Make UK, said:
“Given the difficult economic circumstances the Chancellor faced, as well as the intense speculation, this was a case of two steps forward one step back for manufacturers.
“On the upside, companies will welcome the decision to expand capital allowances for leased equipment and greater investment in Apprenticeships for SMEs. Funding for skills, business support and infrastructure, targeted at the Regional Mayors, will also help support growth. The Chancellor should also be commended for her personal intervention to kick start the consultation on the business energy support scheme which is vital if we are to address the UK’s eye watering and uncompetitive industrial energy prices.
“On the downside, however, restricting tax relief on salary sacrifice and, a further increase in the National Living Wage mean that manufacturers are again facing greater barriers to successful recruitment and retention of skilled staff. The electric vehicle road tax will also potentially hinder their adoption and damage an automotive sector already facing a challenge to meet its EV targets.
“The Government came to power promising that growth was going to be its number one mission and, while it was dealt poor cards, we have yet to see any significant upswing in our economic performance and productivity. It is the private sector that will provide this growth and create high value, high skill jobs and, while the industrial strategy was a major signal of intent, we need to see a much stronger focus on delivery.”
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