Naylor

UK firms rush to invest as Sunak aims to shape post-COVID economy

Edward Naylor

An article featuring Naylor from Reuters.com

Edward Naylor plans to double investment at his plastic and concrete pipe factories over the next two years, spurred on by a huge new tax break from finance minister Rishi Sunak who is hoping to deliver an upgrade of British industry.

Sunak announced on March 3 “the biggest business tax cut in modern British history” as the economy emerges from its COVID-19 slump and faces up to life outside the European Union.

At one of his firm’s six plants, mostly in northern England’s former mining belts, Naylor said he was planning four years’ worth of spending – more than 10 million pounds ($14 million) in total – before the scheme ends in March 2023.

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