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Richard Hallett's view on: Chancellor’s boost for UK companies

Richard Hallett, Head of our UK equities investment team, has welcomed a measure announced in the Autumn Statement that he believes could help increase the competitiveness of UK companies.


Chancellor Jeremy Hunt is to make permanent the “full expensing” regime, which provides an important tax break for businesses when they invest in IT, factory machinery and other capital equipment.

Richard, who manages Marlborough Multi-Cap Growth, said: “We believe that making full expensing permanent will help to increase the competitiveness of UK companies. The certainty the announcement provides will encourage businesses to press ahead with capital investment in areas such technology and more efficient machinery.

“This is likely to improve productivity and help drive stronger long-term growth, which should increase the attractiveness of UK companies for investors. So, we believe this measure provides a boost for UK companies, particularly in areas such as manufacturing.”

Richard also welcomed news that the government is to encourage the £360 billion local government pension scheme sector to increase its allocation to assets including private equity, which invests in unquoted companies. The details are still to be confirmed, but these unquoted businesses could include those listed on AIM, which would provide additional support for valuations.

AIM is a key focus for our three UK smaller companies funds, Marlborough Special Situations, Marlborough UK Micro-Cap Growth and Marlborough Nano-Cap Growth.

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