Peer praises Brompton for its economic evidence of success

London's iconic folding bike maker wins praise in the House of Lords during finance debate
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In the second reading of the Finance Bill, Lib Dem peer Baroness Kramer said:

"I ask the Government to look at extending the enhanced capital allowances regime to small businesses more widely than just to those in the enterprise zones.

"I am a member of the All-Party Parliamentary Group on Rebalancing the British Economy, an excellent group that I recommend to the House. Of all the evidence that the group has heard, I have been most struck by that given by Brompton Bicycles, a firm that sells a conventional product but is successful in large part because its manufacturing processes are at the cutting edge of technology.

"UK small businesses desperately need to accelerate their adoption of new manufacturing technologies to complete and grow. They may not be high-tech in their products, but to be high-tech in their manufacturing tends to make them much more competitive and effective. Incentives to invest in these new processes for small businesses are crucial and I encourage the Government to put this high on their agenda."

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