Chancellor Philip Hammond’s budget should protect the “bedrock” of the UK food industry, says the National Farmers Union (NFU), while business leaders urged him to help the nation “grow its way out of austerity”.
Manufacturing organisations welcomed chancellor Philip Hammond’s first and last “pragmatic” Autumn Statement this week (November 23), but insisted that work still needs to be done to cut business rates.
Food and drink manufacturers are still coming to terms with the budget proposal to introduce a sugar tax on soft drinks, while welcoming business rates reform but expressing disappointment on the failure to cut alcohol duties.
Food and drink manufacturers will find points to praise and areas of disappointment in the chancellor George Osborne’s summer Budget – which he lauded as “a new contract with the nation”, according to the Food and Drink Federation (FDF).
Chancellor George Osborne’s Budget has been greeted mainly with bouquets, as business leaders praised action on energy prices and exports, while some expressed disappointment about his failure to cut fuel duty.
Food industry organisations have given a mixed reception to chancellor George Osborne’s budget – praising the new employer allowance but criticising lack of help for smaller firms and the retention of VAT on hot foods.
As pundits continue to pick through the fine print of Chancellor George Osborne’s Budget, we capture the implications for food and drink manufacturers in key quotes. There’s a a summary box too, listing the main points for food and drink firms.