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Government mulls tax breaks for UK manufacturers

The government is considering introducing tax holidays for UK manufacturers, just weeks after Mulberry chief executive Godfrey Davies said in Drapers that the UK’s punitive tax system could prevent it from opening a second factory in the country.

Chancellor George Osbourne said at a Start Up Britain conference about entrepreneurship this afternoon that the government was looking at various measures to encourage new capital investments in industry, including two-tier tax relief with bigger relief on small investments, and tax breaks for capital investments in industry.

“We are considering tax breaks for capital investment, which we will be looking at (in more detail), particularly for various manufacturing businesses,” Osbourne said.

He did not specify whether these would be National Insurance holidays, as Davies called for in Drapers, or some other form of tax break.

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