News0 min ago
Letter In The Telegraph Today.
SIR – We have been manufacturing farm machinery since 1847, employing about 60 skilled engineers. We are owned by our workforce.
Turning over about £10 million, we manage to squeeze out a profit every year, and invest heavily in development, which is why we are still in business.
The Budget will increase our employment costs (report, November 1) by £50,000 a year – that’s money straight off the bottom line, which HMRC cannot take 25 per cent from by way of corporation tax.
Our decision to invest in a new machining centre has now been put on ice, and we await the fallout from our customers, all of whom are farmers.
Add to this business rates, ridiculous health and safety requirements, crippling final salary pension fund rules, the price of electricity, and the general interference from government in so many aspects of running a private company, and is it any wonder that manufacturing in the UK is on its knees?
In the 47 years I have been a director of the company, I cannot remember having to face such an uncertain future.
Anthony Bone
Chairman, Standen Engineering Ltd
Ely, Cambridgeshire
I guess that says it all. ?
Answers
Best Answer
No best answer has yet been selected by Khandro. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
"ridiculous health and safety requirements"
they are always "ridiculous" until someone gets hurt aren't they
according to its website standen engineering is "Standen Engineering Ltd is owned by its shareholders, most of whom hold key positions within the company" so his implication that the company is owned co-operatively is very misleading. one wonders where else he might be stretching the truth
If you own a business with an annual turnover of over £10 million, employing 60 skilled people; and you claim that an additional cost of £50k (which would be less than the annual cost of employing an extra employee) is going to significantly affect the business operation – then the company’s finances are already in a very precarious state.
Hymie, you have conveniently omitted the rest of his letter.
" Add to this business rates, ridiculous health and safety requirements, crippling final salary pension fund rules, the price of electricity, and the general interference from government in so many aspects of running a private company, and is it any wonder that manufacturing in the UK is on its knees?
It's not just the £50,000 is it?
It’s amazing to me how many have swallowed the right-wing presses nonsense on what a disaster this Labour government are.
From taxing the rich to pay for public services, to the winter fuel payments cut (for some).
If you are a pensioner who has missed out on the fuel payment, and a cut in income of less than a pound/day is a significant cut in your income (causing hardship), then you have failed in life.
I recently posted that as a result of changes made to my private pension, I effectively lost out on £50k of pension income – this represents over 160 years of personal winter fuel payments. Not a single person expressed sympathy for me, or offered to set up a ‘go fund me page’.
In relation to those who supported Labour, but are now critical of them based on right wing press, they appear to have a very short memory, having forgotten how corrupt/dishonest/incompetent the last 14 years of Tory governments were.
Today a farming family is devastated by the suicide of their loved one who feared the newly imposed inheritance tax on agricultural land
Farmer is feared to have taken his own life in his barn after Labour's inheritance tax land grab https:/
That is only manufacturing, British farmers are in despair also.
Does Reeves and her cohort know anything at all about farming? Apart from having weekend cottages, have they ever lived in a farming community? (I have).
The land on which they farm may be of value, but that doesn't put the bread on the table. Many will have to sell up and the super rich will grab their land, Bill Gates now owns an astonishing amount of land - 250,000 acres of highly productive farmland spread out over 17 states. That is only in the US, he also owns large tranches in Africa and elsewhere.
How many farms will be affected by Budget tax rises?
https:/
^^ So, it's only 500 farms then ? well that's no problem (unless of course you happen to be one of them), and how do they know the individual cucumstances of each farmer?
The Beeb's 'verifying service' puts up a ridiculous number claimed by an MP of farms effected, and then drastically reduces, it so all's well. 🙄
//Hundreds of angry farmers to hold protest in London over Labour’s ‘death tax’ on their land//
As Rishi Sunak said, Rachel Reeves may have been an economist but she knows nothing about business - and quite honestly I don't think any of them do. If they did they wouldn't have done what they've done.
Latest Posts
ChatterBank3 mins ago
ChatterBank6 mins ago
ChatterBank6 mins ago
ChatterBank11 mins ago
