HC Deb 27 November 2003 vol 415 c448W
Mr. Stephen O'Brien

To ask the Secretary of State for Trade and Industry what steps she is taking to encourage manufacturing investment in the UK. [140949]

Ms Hewitt

We 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.