Some initial commentary from Adrian Curry, Managing Director of Encirc, a leading glass manufacturer, filler and distributor, on the Autumn Statement 2023 and its impact of the manufacturing and beverages sector. In the Autumn Statement, the Government of the United kingdom updates the Commons on the state of the economy, and at times, announces tax and spending decisions.
Adrian Curry said, “The 2023 Autumn statement highlighted positive news for ourselves, our partners and the hospitality industry with the freeze on alcohol duty till 1st August 2024. This freeze will drive growth in the industry and support jobs while generating more interest from consumers, without increasing costs. This last year we saw the largest alcohol duty rise for almost 50 years, so this trend simply could not continue.
“UK manufacturing and technology needs continued support from the Government to cement our position on the global stage and reach and surpass sustainability goals, and it’s positive to see a commitment to long-term industrial planning. The GBP 960 million of funding dedicated to the evolving the green sector as part of the GBP 4.5 billion investment in manufacturing will be vital to validating alternative fuel sources to natural gas and oil, such as hydrogen and biogases.
“Meanwhile full expensing for businesses looking to transform their operations and meet sustainability objectives opens up opportunity to make the investments necessary to push themselves and entire sectors forwards.
“At Encirc we have been bold in both our action and plans to place glass as the sustainable packaging of choice for the future. To achieve this we need the right support mechanisms in place and long-term certainty for investment to happen.”