BCC's analysis of the 2017 Spring Budget is available in Economic Outlook No. 33 (available to members only).
For the ceramics industry the key elements of the budget were:
- Government to target a total carbon price from 2021-22 and remains committed to carbon pricing to help decarbonise the power sector.
- Providing English local authorities with funding to support £300 million of discretionary relief, to allow them to provide support to individual hard cases in their local area.
- Support for small businesses losing Small Business Rate Relief to limit increases in their bills to the greater of £600 or the real terms transitional relief cap for small businesses each year.
- £300 million towards high-skilled research funding focused on STEM subjects and £270 million towards disruptive technologies.
- Full implementation of Sainsbury report into technical education including £500 million per annum funding of 16-19 technical training.
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