A manifesto published by the EFF, the manufacturers’ organisation, entitled Making the Future, Making Britain Great*, calls on Government to enhance the UK’s position as a manufacturing powerhouse.
It urges Government to use the opportunity to fully commit to a comprehensive industrial strategy, building on the momentum created by the dramatic increase in manufacturing performance as presented in recent data including GDP and PMI figures.
EEF’s Chief Executive, Terry Scuoler, does however feel concerned that that Brexit may overshadow plans to boost economic growth. He also warns that manufacturers could be severely impacted, should no comprehensive trade deal be agreed.
EEF’s manifesto sets out a programme to boost investment and deliver a more skilled and productive workforce. The manifesto calls for:
- A comprehensive industrial strategy to boost economic growth and social wellbeing across the UK driven by the office of the Prime Minister with all Government departments accountable for delivery
- An ambitious Brexit deal that retains the benefits of the single market and enables seamless trade between Britain and the EU with minimal cost to business
- A new immigration system giving employers the ability to manage work permits ensuring they have access to the people and skills they need
- A boost for innovation, enhancing research and development incentives and making a solid commitment to improve digital technology, including the expansion of fast broadband
- A clear commitment to deliver the third runway at Heathrow and improve road and rail links
- An extension of devolution deals across England with a focus on improving transport links
- A renewed commitment to reduce regulatory cost on business including an enhanced role for the Regulatory Policy Committee
Commenting on the plan, Terry Scuoler says: “Manufacturing industry must be at the heart of any new Government’s vision for a strong and successful economic plan for the UK. Manufacturing firms up and down the country represent the best of British business and they need to feel certain that Government is backing them in the face of the complex process of leaving the EU.
“Whatever deal we eventually achieve with the EU, it must lead to a realistic and supportive trading relationship. Walking away without a deal would throw a significant spanner into any effort to build a vibrant and productive economy. A robust and growing industry will be the hallmark of a successful Brexit negotiation.”
Measures recommended by EEF include:
- Developing a close collaboration between Government and business to strengthen different sectors,
- A drive to develop good business practices by giving shareholders a greater say on executive pay, and
- Promoting employee engagement in decision-making.
At Beavis Morgan, our specialist advisers to the manufacturing sector are able to assist with all aspects of business performance including ensuring that adequate measures are put in place to protect the health of your business, both now and for the future.
Having assisted many businesses across a variety of sectors make significant ‘money back for research and development’ claims when some were previously unaware they could, our research & development (R&D) tax credit specialists are also on hand to maximise the value of any potential claim and manage the often complex process on your behalf.
We know first hand how important the R&D tax credit scheme is in encouraging innovation and increased spending on R&D activities by companies operating in the UK, as we have made a significant number of successful claims on behalf of clients who have invested in advancements.
Contact Steve Govey or your usual Beavis Morgan Partner for further information about how we can assist you and your business.
*Source: Making the Future, Making Britain Great – a manifesto for manufacturing