Scott Bros

Bob Borthwick, a director with Teesside recycling experts Scott Bros., said he is largely looking for inaction from the chancellor - by not abolishing super deduction relief tax, maintaining the status quo on fuel duty, and ignoring the pledge to increase corporation tax from 19% to 25%.

He said: “Scott Bros. is a family-run firm that has been able to grow and establish itself as a key contributor to Teesside’s circular economy by constantly reinvesting its profits in new equipment and technology. One good example is the £6m it has spent to create one of the UK’s largest wash plants, which takes construction waste and converts it into commercial grade aggregate and sand for the building industry.

“Without super deduction relief, which rewards investment in plant and machinery, Scott Bros. would have been forced to limit the scope of its plans and in turn its future growth strategy.

“In addition, any rise in fuel duty, coupled with an expected increase in corporation tax will have a detrimental impact on SMEs across the country – reducing the amount of cash available to invest and innovate, reigning in ambition, limiting the rewards while at the same time extending the risks.”