‘Super-Deduction’ Scheme, could possibly ignite further expansion.
Chancellor announces Super-Deduction Scheme
As the Mick George Group continue to make emphatic strides in the Construction Industry, specifically within its Contracting Division, the recent announcement from Chancellor, Rishi Sunak in his latest Budget statement surrounding the ‘Super-Deduction’ Scheme, could possibly ignite further expansion.
Never one to shy away from considered investment, the Mick George Group has the opportunity to utilise the Capital Investment programme to increase its already impressive fleet of plant, machinery and equipment, which currently comprises some of the most exclusive in the UK.
Currently experiencing significant demand for its wide-ranging Contracting provisions, this could be a timely boost for the business as they look to make further progress.
The Super Deduction is based on a scheme successfully introduced in Slovakia and is anticipated to attribute direct benefits to the Construction Sector, something that has been applauded by Industry professionals such as Rob Oliver CEO, CEA (Construction Equipment Association)
The Chancellor has announced the formation of a UK Infrastructure Bank with an initial capitalisation of £12 billion, which he hopes will stimulate investment of £40 billion. The CEA welcomes this as a way of leveraging additional investment in ‘green’ construction projects.
In addition, grants for taking on new apprentices are to be doubled to £3,000 and a ‘Help to Grow’ initiative will offer 90% grants for a new executive development programme. This provides additional incentives for companies to restart their hiring plans and to upskill their existing work force.