19 May, 2022

The BFPA comments on Autumn Statement

05 December, 2012

In reaction to today’s Autumn Statement, British Fluid Power Association (BFPA) director, Ian Morris, commented:  “Whether UK businesses or the general public like it or not, the fact is we all continue to be saddled with a very formidable budget deficit, which frankly can only be reduced through the most prudent and careful steering of available funds. During the Prime Minister’s Question Time today, David Cameron made the point that more needs to be done with less, and today’s Autumn Statement given by Chancellor George Osborne, sets out to do just that, remaining committed on the Coalition Government’s existing austerity path while pledging to pump several billion pounds into UK infrastructure, including construction and roads and the rail network.

“This is not only good for commuters and the general consumer but also very welcome news for the many businesses that rely heavily on these sectors for their very survival. In this regard, today’s Autumn Statement will certainly be embraced by our own members, who provide a host of design packages, plant & equipment and maintenance services to these sectors. Job-creation through intelligent business stimulation such as this is certainly to be applauded.

“While continuing to keep on a steady path with a view to further reducing the deficit without falling back on the easy option of more borrowing (which is ultimately self-defeating), it is heartening to see that the Coalition Government is also enthusiastically committed to stimulating growth through infrastructure development.”
Additionally, the Chancellor’s decision not to hike fuel duty in January also has to be welcomed. The proposed fuel duty increase has been roundly criticised over the past few months, and rightly so. It would potentially have further scuppered the profitability and morale of all types of business that rely on affordable transportation to remain profitable. All in all, there have been many positive aspects to today’s Statement.”

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