Home Business news Hunt announces £360m manufacturing R&D funding package in pre-budget growth push –...

Hunt announces £360m manufacturing R&D funding package in pre-budget growth push – business live

54

Rolling coverage of the latest economic and financial news

The Treasury has been exploring every avenue in its attempt to find a way of putting more money in the pockets of consumers while sticking to its self-imposed rule to be cutting debt as a share of national income in five years’ time, our economics editor Larry Elliott write.

But, experience suggests this strategy won’t work, he points out:

For a start, the sums involved will be relatively modest. The size of Hunt’s net giveaway on Wednesday is likely to be a maximum of £10bn, which is small beer in the context of a £2.5tn-a-year economy.

The package will be smaller than last November’s autumn statement, which made no difference to the Conservative party’s dire opinion poll ratings.

“This investment is a strong commitment to Chippenham and our country.

“Siemens Mobility’s Chippenham site, along with our 30 sites across the country, has been transforming rail, travel, and transport in Britain – and it will continue to do so with cloud-based rail technology connecting the real and the digital worlds, digitalizing rail.”

Continue reading…Rolling coverage of the latest economic and financial newsBudget plans risk ‘second lost decade’ of living standards, Jeremy Hunt toldJeremy Hunt will try to talk a long game while scrambling to fund pre-election tax cutsThe Treasury has been exploring every avenue in its attempt to find a way of putting more money in the pockets of consumers while sticking to its self-imposed rule to be cutting debt as a share of national income in five years’ time, our economics editor Larry Elliott write.But, experience suggests this strategy won’t work, he points out:For a start, the sums involved will be relatively modest. The size of Hunt’s net giveaway on Wednesday is likely to be a maximum of £10bn, which is small beer in the context of a £2.5tn-a-year economy.The package will be smaller than last November’s autumn statement, which made no difference to the Conservative party’s dire opinion poll ratings.“This investment is a strong commitment to Chippenham and our country.“Siemens Mobility’s Chippenham site, along with our 30 sites across the country, has been transforming rail, travel, and transport in Britain – and it will continue to do so with cloud-based rail technology connecting the real and the digital worlds, digitalizing rail.” Continue reading…