MANUFACTURERS are calling for targeted measures in the upcoming Budget in order to boost investment, according to a report.

Many of the 170 firms asked by trade organisation Make UK believe the government’s industrial strategy will bring immediate benefits, a survey found.

Almost two in five companies will increase investment, mainly in decarbonisation, artificial intelligence and digital technologies, in response to the strategy.

“However, it’s clear that we’re at a critical juncture for investment,” senior economist at Make UK Fhaheen Khan said, “And there is a real sense of urgency.

“The forthcoming Budget must not only safeguard current incentives, but refine them with a set of carefully targeted measures to focus on boosting the take-up of accelerating technologies and innovation.

“Furthermore, the statement should end the frequent tax changes to incentives we have seen in recent years by committing to a business tax regime set in stone for the lifetime of this parliament.”