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The plea came from the Manufacturing Technologies Association’s President, Bob Hunt, during his well-received, fifteen-minute speech to leading engineering firms, business leaders and politicians at the MTA Annual Dinner in London on 4th March.
His core message was that manufacturing must play a much larger part in a future balanced economy in the UK, now that the financial sector is so weakened and discredited.
During his address, Mr Hunt stated that manufacturing is the route to returning this country to prosperity, but that manufacturers and Government must take the lead to create demand. Confidence will then return.
He was critical of some of current aid packages for business, commenting, “Government has introduced a number of initiatives aimed at supporting industry in these difficult times. However, we have to seriously question the impact. Billions of pounds of our money have been thrown at the problem but to date we are far from convinced that the core issues have been addressed.”
Specifically, he asked that Government take further measures to stimulate the economy, give less emphasis to recruitment and more to retaining existing staff, and re-introduce the temporary short-time working subsidy as an alternative to unemployment benefits.
He said, “We must work with the banks and Government through this crisis, whilst at the same time making sure that we are not penalised for the failings of others. Manufacturing needs a strong voice in these discussions. Our trade earnings are central to our economy and must not be viewed as peripheral to the country’s needs.
“During discussions I have had with Mark Prisk, the Shadow Small Business Minister who now reports directly to Ken Clarke, the Conservatives confirm that they have embraced our message and want more detail on how their policies can help manufacturing further.
“Today, our industry is well placed to play a key role in leading the UK out of recession. So to Government we say: give us the tools and we will finish the job.”