Michael Thornton, partner and head of manufacturing at tax consultants RSM says there is plenty to be optimistic about life outside the EU for manufacturers.
Michael Thornton said:
“There is a golden opportunity for the [manufacturing] sector. Brexit means that the UK should no longer need to comply with state aid rules meaning that government can implement grant funding mechanisms that get to the heart of current structural issues surrounding the funding of innovation.
“Furthermore, the government will be free to develop an attractive tax landscape that should maintain and build on the UK’s attractiveness to global businesses.”
His final point could prove contentious.