Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Manufacturers are seeing signs of growth amid a better outlook for the economy, according to new UK research.
Make UK said a survey of 320 companies found that output and orders were increasing, with the sector forecast to outpace the economy this year.
Business confidence has risen to equal its highest level in the last decade, as companies look to emerge from a two-year ‘slump’, said the report.
The survey showed that manufacturers want the next government to make delivering an industrial strategy its top priority.
James Brougham, senior economist at Make UK, said: ‘At long last, manufacturers can see concrete signs of growth and a much better economic outlook ahead.
‘With prices cooling and potential cuts in interest rates to come, the next Government must capitalise by delivering a modern, long-term industrial strategy which goes beyond the 2030s and has cross-government support.
‘This must be supported by a revolution in skills, a shortage of which is the biggest factor affecting not just companies’ growth prospects but, in many cases, their ability to maintain daily operations and fulfil contracts.
‘This must now be a national endeavour and begin with a fundamental review of the apprentice levy and wider vocational training system.’
source: PA
Copyright 2024 Alliance News Ltd. All Rights Reserved.