UK manufacturers want tax cuts

LONDON, June 20 (Reuters): Britain's main manufacturing lobby, Make UK, told the government to stop "short-term gimmicks" and cut taxes for the sector, as its members reported a significant slowdown in orders and a nose-dive in investment.
Make UK said it expected factory output to grow 2.3% this year - down from a forecast of 3% three months ago - and slow further to 1.7% in 2023, as manufacturers battled surging raw material costs and higher staff pay demands.
The Paris-based OECD forecast this month that Britain will see the weakest growth next year of any major economy other than Russia, as well as persistent inflation.
Higher costs had led to a particularly big retrenchment in British manufacturers' investment plans over the past three months, according to Make UK's members.