Chief Secretary to the Treasury Danny Alexander has toured the historic West Gun Works of Sheffield innovator, Gripple.
During the Liberal Democrat MP’s visit, he spoke with Gripple founder Hugh Facey and several Gripple team leaders from the production, engineering and administration departments, all of whom are shareholders in the business.
My Facey stressed Gripple’s firm belief in employee ownership and called for an increase in first year capital allowances for investments in plant to boost the manufacturing sector.
Mr Facey told Mr Alexander: “Undoubtedly the increase in the first year capital allowances to 40 per cent would be a great help and the stimulus would help all manufacturing. Moreover, an increase to 100 per cent first year allowance, as they had been in the past, would stimulate real and substantial investment and really grow the UK economy.”