Ahead of the Spring Budget (Wednesday 15 March 2023), Chris Barlow, Partner at MHA, says that while the Government’s intention to introduce a new capital allowance regime is encouraging, it isn’t enough to offset current economic headwinds and the tax changes coming into force in April:

According to preliminary figures compiled by the MECS - Ucima Research Centre, the sector will report year-end revenues of €8 billion, 3% down on the all-time record of 2021. Orders are increasing, with 7 and a half months of guaranteed production in 2023

Following the sacking of Kwasi Kwarteng and with pressure mounting on the government to execute more U-turns on tax policy to calm the markets, Chris Denning, corporate and international tax partner at MHA, says it is a big blow for UK business that a pro-growth tax policy is set to be blown off course:

The graphical sector is part of Europe’s critical infrastructure, with printers producing essential products that are required across the European economy. The energy crisis – on top of the effects of the pandemic and dramatically increasing paper prices – has left many printing companies in a critical situation. This will have severe repercussions on the supply of printed products for all markets. Legislators at national and EU level must provide our industry with more support. The continuous supply of essential products is at stake.

Following the release of the latest UK Manufacturing PMI (3 October), Richard Powell, partner at MHA, see’s little reason for sector optimism as rising inflation and a dramatic downturn of the pound pile further pressure on manufacturer’s margins and their ability to come through economic turbulence unscathed:

However, the industry expects long-lasting effects of the Corona pandemic
Press manufacturer Roland DG EMEA today released its annual State of Digital Printing in Europe report. The research, which measures the business performance and business expectations of more than 1,300 printers in the UK, France, Germany, Italy and Spain, has revealed that the sector is returning to growing sales in 2021 after a difficult year.

The French packaging market is set to grow at a compound annual growth rate (CAGR) of 1.3% from 94.6 billion units in 2021 to 101.1 billion units in 2026, driven by rigid plastics, forecasts GlobalData, a leading data and analytics company.

Consequences of the energy price explosion

Following the release of the latest UK Manufacturing PMI today (1 September), Ginni Cooper, partner at MHA, says the next prime minister must offer immediate sector support and clear tax incentives to restore plummeting manufacturing confidence:

Following the release of the latest UK Manufacturing PMI today (1 August), Chris Barlow, partner and head of manufacturing at MHA, urges the government to deliver a combination of short term relief and a long-overdue industrial strategy for manufacturers facing a barrage of inflationary and fuel price pressures:

Lighter and lighter packaging that requires less material and raw materials - and at the same time we consume more and more of it per year. How can that be? The Society for Packaging Market Research (GVM) is also looking into this. In a current study, it examines the development of the total consumption of packaging between 1991 and 2020 - and what influences it. Because between 1991 and 2020, the amount of packaging increased by 14 per cent (which corresponds to 1 million tonnes).

Cepi’s annual statistics for the European pulp and paper industry published today offer a unique view of the current state of the market for pulp and paper products and the industry’s performance. They also allow for an objective analysis of deeper trends behind the industry’s resilience.