U.K. Finance Minister Jeremy Hunt will deliver his Autumn Statement budget announcement on Wednesday, facing pressure from within the ruling Conservative Party to implement tax cuts as the country’s economy stagnates.
The U.K. Treasury last week announced £4.5 billion ($5.6 billion) in funding for British manufacturing to boost investment in eight sectors across the U.K., available for a five-year period from 2025.
Sunak and Hunt will be keen to offer some positive news to voters, who have been hammered by a cost of living crisis in recent years, ahead of a likely general election in 2024. The main opposition Labour Party currently holds commanding leads in the polls.
Accrol Group Holdings plc (LON:ACRL) is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue and biodegradable wet wipes. The UK soft tissue market is worth £1.6bn with private label products comprising circa 50%. Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.