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Siemens plc Response to 2011 Budget

Siemens plc has today released statements from its Chief Executives and Siemens Industry Sector Managing Director in response to the 2011 Budget.

Andreas J Goss, Chief Executive, Siemens plc, said:
"Siemens is very pleased that the Chancellor has announced an additional GBP2bn of capital funding (to a maximum of GBP3bn) for the Green Investment Bank and accelerated its implementation to 2012. This should put the Bank on a secure footing, giving access to finance that is essential to for the deployment of low carbon, infrastructure projects."

Andreas J Goss, Chief Executive, Siemens plc, said:
"Siemens welcomes the announcement in the Budget of a new Enterprise Zone in London - we backed the call for an Enterprise Zone centred in Newham, where we are building the Siemens global centre for urban sustainability. If the incentives are right, this new zone could ensure sustainable employment and a lasting economic legacy for London."

Juergen Maier, Managing Director, Siemens Industry Sector said:
"Siemens welcomes the steps taken in the 2011 Budget to encourage investment within the manufacturing sector in new plant and machinery. Doubling the limit on capital allowances from 4yrs to 8yrs should help UK manufacturers invest to increase productivity and encourages the growth needed for the UK to maintain a competitive position in the global market."