Photo: Alan Mak MP with Hugh and Helen Watson, co-founders and directors Innova Design basd in Emsworth
Havant MP Alan Mak has secured the Chancellor's backing for Emsworth-based manufacturer Innova Design in the House of Commons
Innova Design, an Emsworth-based manufacturer that produced over 100 “Man of the Match” trophies for the 2014 Football World Cup in Brazil has been praised by the Chancellor in Parliament as an example of the Solent’s region’s manufacturing strength.
Chancellor George Osborne praised Innova Design, run by husband and wife Hugh and Helen Watson following an intervention from local Havant MP Alan Mak during Treasury Questions.
Speaking in Parliament, Mr Osborne backed the local firm as a prime example of the strength of the manufacturing industry in Havant and the Solent region.
The Chancellor said, “I congratulate Innova Design on the work they are doing.” In response to Mak praise for Innova’s use of the government’s Investment Allowance Tax Relief. The tax break allows manufacturers to invest in new machinery more cheaply which Innova have done.
As of this month, businesses will now enjoy an unprecedented annual allowance of £200,000, designed to be reinvested into long-term assets and infrastructure to help growth.
The Chancellor said that the government was “backing businesses with a new permanent annual investment allowance of £200,000, which is the highest it has ever been.”
Havant MP Alan Mak said “I am delighted that the government is supporting local businesses like Innova. Promoting small businesses and entrepreneurship in Havant is my top priority, and it was a pleasure to look around Innova’s manufacturing plant recently with Helen and Hugh.”
Founder of Innova Design and Build, Hugh Watson, said, “It was terrific for Innova to be mentioned in Parliament by the Chancellor and our local MP. I am pleased to see Alan show his support for local business and innovation.”
Referring to the government’s policy of Investment Allowance Tax Relief, Mr Watson said “The allowance has really helped Innova, and others like us, to thrive. The high threshold of the permanent allowance has enabled us to invest in vital machinery and protect the future of our business.”
Innova designed and manufactured over 100 “Man of the Match” trophies for the 2014 Football World Cup in Brazil.