Entrepreneur Gareth Thomas, Managing Director of precision plastic injection moulding firm Icon Plastics, of Eaglescliffe, said: “Many of the Budget announcements are a case of jam tomorrow rather than today. A case in point is the latest cut in Corporation Tax, which will not come into effect until April 2020.
“Companies that buy raw materials from Europe and pay in Euros are facing increased costs now as uncertainty caused by the forthcoming Euro referendum has hit the value of the pound.”