Autumn Statement must boost innovation and investment
With the new Chancellor’s first Autumn Statement just around the corner, EEF has urged the government to tackle the political uncertainty by boosting investment and growth with a new industrial strategy.
The call from the industry body comes after survey results showed 1 in 4 manufacturing companies are holding off investment plans, with recommendations including better support for growing businesses and a more reliable and resilient infrastructure. Terry Scuoler, Chief Executive of EEF commented: “The whole of government must get behind UK businesses and demonstrate a clear appreciation of the need to back strategy.”
For more details on the recommendations, head here.. http://ow.ly/9lSw306bEqe
Northern Powerhouse projects put to investors
Last week, Chancellor Phillip Hammond addressed investors as part of the UK-China Economic and Financial Dialogue. The projects put forward were worth around £5bn, including the growth of an aviation logistics hub in Doncaster and the expansion of MediaCityUK in Salford.
It is believed that the projects are providing major opportunities for the UK to build a strong partnership with China, at a time where doubts have been cast over the funding of the Northern Powerhouse. Mr Hammond said: “This portfolio, opening up billions of pounds of investment-ready projects to Chinese investors, will support out work to grow and create jobs in the north, as well as underpin our ambitions to bring world-class infrastructure to every corner of Britain.”
To find out more on the project proposals, head here.. http://ow.ly/F6O9306bErE
Fast track: Are tech upstarts forcing the pace of automotive change?
Just a few years ago, technologies such as driverless cars and vehicle-to-vehicle technology were viewed as futuristic and far from reality. Now, in 2016, the automotive sector is rapidly developing to welcome these technologies and many others, with a little help from some of the industries relative newcomers.
Originally not known for their automotive knowledge, technology giants such as Google, Microsoft and Apple have all been pushing ahead of car manufacturers, revealing new plans to make their breakthroughs into the market. Karl Brauer, senior analyst at Kelley Blue Book commented: “Car makers have recognised, certainly in the last year if not in the last two to three, that they have to play a role, or they risk becoming obsolete.”
You can find out how other companies such as Tesla are pushing the industry forward by heading here.. http://ow.ly/j4ip306bEtv