Oliver lobbies Lords on export tax relief

NORTH West inventor and entrepreneur Michael Oliver is ramping-up his campaign to change the tax policies to favour exporters.

Mr Oliver, chairman and founder of Knutsford-based Oliver Valves, welcomed members of the House of Lords Select Committee to the company’s headquarters earlier this month.
 
Visitors included former BBC director general Baron Grade and Lord Haskins as well as UK Trade and Investment officials including regional director Clive Drinkwater.
 
Mr Oliver re-iterated his call for the introduction of a tax credit of 10p for every £1 exported by UK engineering and manufacturing companies, which he says will boost the economic recovery.

The committee members have agreed to consider Mr Oliver’s proposals in greater detail following the meeting.

Mr Oliver said: “The home economy in Britain is struggling and the only way we are going to repay our huge debt is to reverse insular investment and develop a buoyant export culture. This would create jobs and pay down our own debt.

“Cost is a major barrier to overseas trade but breaking this down through a simple tax relief will put the impetus on manufacturers to explore new markets.”

He said if his plan was already in place, based on last year’s figures, he would have had an additional £6.5m to reinvest in personnel and overseas trade.

Oliver, who was recently honoured with an OBE for services to industry, is now attempting to collect 100,000 signatures in support of his campaign to receive a hearing in the House of Commons.

“The visit by the Lords Select Committee was a significant acknowledgement of the seriousness of this campaign. It’s the first step in getting the issue heard in the House.”
His e-petition can be found at: http://epetitions.direct.gov.uk/petitions/35204