§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry what steps she is taking to encourage manufacturing investment in the UK. [140949]
§ Ms HewittWe published the Government's Manufacturing Strategy in May 2002—the first such strategy for 30 years—which we developed in partnership with industry, trade unions and other stakeholders, following a summit meeting on the challenges facing manufacturing held in December 2001.
By maintaining a stable macroeconomic climate, together with measures such as reforming capital gains tax; making permanent enhanced capital allowances for small and medium sized firms; introducing the R&D tax credit for small and large firms; establishing Regional Venture Capital Funds; and extending the Small Firms Loan Guarantee, we are providing a climate conducive to investment for the long term in UK manufacturing.