May must deliver on new industrial strategy, insist manufacturers
EEF has warned that “complacency is not an option”, following on from studies which have suggested that 90% of people believe the UK needs a solid industrial strategy, while a further 86% want the government to promote a stronger manufacturing base.
With the uncertainty caused by Brexit, the industry body is looking to the government to formulate an industrial strategy to back the plans that have been in place since Theresa May took over the role as Prime Minister back in July. Lee Hopley, chief economist at EEF, said: “The UK has tried industrial strategy before but the results have not been great. We need a comprehensive strategy that pushes right down through the supply chain and that cuts across sectors.”
For more on EEF’s views, head here.. http://ow.ly/gKPK305xPeH
Industry reacts to Heathrow expansion approval
Earlier this week, the government approved plans for a third runway at Heathrow Airport, following on from decades of discussions. It is thought that the new runway will bring economic benefits to the economy worth up to £61 billion over the next 60 years.
However, in response to the announcement, Philippa Oldham, head of transport and manufacturing at the IMechE, said: “This is so near and yet so far. Without clear view from government on its support for expansion at Gatwick and Birmingham airports, investors are still unable to take a long-term view on how to future-proof UK airport capacity.
To read more on the views from other industry figures, head here.. http://ow.ly/4LVz305xPg3
What are the possibilities for UK manufacturing post-Brexit?
As of yet, Brexit is having less of an impact on UK manufacturing than other sectors, but many businesses are still uncertain of what the decision means for the future of trading and investment.
Many believe that the UK has been on a path for reducing dependency on the EU for some time. Therefore Brexit could in fact accelerate the country’s focus on becoming competitive on a global scale. Meanwhile, other possibilities could include a far greater ability to invest in key technical manufacturing industries and more flexibility with taxes.
What opportunities could be presented to you and your business? Find out more by heading here.. http://ow.ly/RVVw305xPnG