MTA urges manufacturers to take up Super-Deduction scheme benefits at MACH

With less than 200 days to go until the opening of MACH 2022 manufacturers are being urged to use the exhibition to plan their growth strategies and take advantage of booming market conditions.

Show organiser, the Manufacturing Technologies Association (MTA), said positive economic forecasts suggested there was a strong appetite amongst manufacturers to do business, and with investment incentives in place, there had never been a better time to acquire the machinery that could facilitate growth.

MACH 2022 takes place at the National Exhibition Centre in Birmingham between 4-8th April 2022. The MTA says with almost seven months still to go until the show opens its doors, the event has already sold three quarters of exhibition space and more firms are signing on all the time to participate.

James Selka, CEO of the MTA, said: “If the manufacturing sector is to lead the UK’s economic recovery from the pandemic, then it needs to be at the top of its game. Ensuring that it can take advantage of all opportunities that come its way will be critically important.

“Whilst the recovery was somewhat subdued over the summer, for a variety of reasons, the long-term picture is still one of major growth in the UK economy. The government is doing all it can to help firms invest for growth, principally through initiatives such as Super Deduction and the MTA has responded by ensuring that MACH 2022 will be the perfect showcase in which to see all the latest machines in action.”

Running until 31st March 2023, the new Super-Deduction scheme means companies investing in qualifying new plant and machinery assets will be able to claim a 130% super-deduction capital allowance on their plant and machinery investment, plus a 50% first-year allowance for qualifying special rate assets.

The Super-Deduction scheme will allow companies to cut their tax bill by up to 25p for every £1 they invest. The incentive scheme is intended to jump-start the manufacturing sector as it looks to bounce back quickly from the pandemic-induced recession.

The Office for Budget Responsibility (OBR) has predicted the scheme could encourage manufacturers to bring forward investment plans and in the process, speed up the rate of recovery.

Latest figures show production in four out of the 13 manufacturing sub-sectors increased in July 2021. The largest positive contribution to manufacturing growth came from the production of motor vehicles, trailers and semi-trailers, which grew by 11.4% as reports of microchip shortages disrupting car production eased.

The MTA is also collaborating with the NEC to improve the exhibition visitor experience at MACH 2022.

Ian Taylor, managing director for NEC Group Conventions and Exhibitions, said: “In recent weeks, the NEC has hosted a string of high-profile exhibitions. We’ve welcomed back thousands of exhibitors and visitors and it’s clear that there is huge demand for these marketplaces, with people really embracing the return of face-to-face relationships. Delivering such successful exhibitions has shown that live events are not only a hugely valuable route to market for thousands of businesses but are also more than capable of being staged safely in every industry sector.

“I’ve no doubt that MACH 2022 will provide the perfect opportunity for global manufacturing businesses to tap into this market demand and explore new technologies.”

Despite the timeframe, exhibitors and visitors can interact with the exhibition now. As part of the MTA’s commitment to improve the exhibition experience, the association has invested in a new online platform, Map Your Show planner, to help people get the most from the event.

Trialled with great success during the MACH 2022 Preview Week, the platform enables visitors to filter by product type, save favourite exhibitors, speakers and content to their personal show planner. They can even make direct contact with exhibitors ahead of the event.

The MTA says no other manufacturing event can bring together so many key decision makers across a five-day period, and no other event of its kind can attract over 20,000 trade visitors with real purchasing power - all looking to meet new suppliers, find new products, network and form new business relationships.

For more details on the exhibition and how to use the new show planner, visit the MACH 2022 website.

MACH 2022

www.machexhibition.com

 

 

 

 

 

Related Articles

EMO Milan 2021: meet ‘The Magic World of Metalworking’

Promoted by CECIMO, the European Association of Machine Tool Industries, and organised by the operational structures of Ucimu-Sistemi per Produrre, the Italian machine tool, robot and automation systems manufacturers' association, EMO Milan 2021, with its slogan ‘The Magic World of Metalworking’ will take place at fieramilano Rho from 4-9 October.
3 weeks ago News
Most recent Articles

Login / Sign up