§ Mr. CoxTo ask the Chancellor of the Exchequer if he will make a statement on the Government's support for the manufacturing industry in Greater London. [60709]
§ Mr. BoatengThe Government have put in place an ambitious programme of micro-economic reforms to raise UK productivity growth. Many of these measures will help manufacturers throughout the UK improve their productivity performance. For instance, manufacturers will benefit from the extension of the R&D tax credit to all firms as announced in Budget 2002, following the introduction of an R&D tax credit for small firms. Manufacturers will he the main beneficiaries of this initiative, as they undertake 80 per cent. of the UK's commercial R&D.
Manufacturing industry in London also benefits from a range of DTI programmes to encourage investment, to promote enterprise, innovation, and knowledge transfer, to raise skills, and to provide an effective and competitive framework. Information on these is available from the 1293W DTI. The Regional Development Agencies (RDAs) have recognized manufacturing as a priority in every region. The introduction of the Single Pot funding arrangement in April 2002 has given the RDAs unprecedented flexibility in the use of their resources. The London Development Agency (LDA) operates a number of schemes to support manufacturers in Greater London. Information on these initiatives is available from the LDA.