Proceeding contribution from Rob Marris (Labour) in the House of Commons on Thursday, 9 July 2009. It occurred during Topical debate on UK Manufacturing.
UK Manufacturing
I quite agree with the hon. Gentleman: we cannot compete with India and China. We need capital investment. He is right that Conservative party policy is to cut corporation tax from 28 per cent. to 25 per cent. for larger companies; that is where the £3.7 billion comes from. The countervailing measure to make the policy cost-neutral is to take £3.7 billion away from capital allowances. I just put it to him that manufacturing industry disproportionately relies on capital allowances. We want capital investment, and we have to have it, because we cannot compete on wages with India and China.
Secondary information
- Type
- Proceeding contribution
- Reference
- 495 c1206-7
- Session
- 2008-09
- Chamber / Committee
- House of Commons chamber
- Subjects
- Costs Coal Competition Employment Innovation Economic situation Manufacturing industries Mining Regional planning and development Skilled workers Shipbuilding Economic recession World economy
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2024-04-21 12:44:18 +0100
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