BCC hope for help for manufacturers in Summer Budget

BCC hope for help for manufacturers in Summer Budget

The British Chambers of Commerce have spoken out this week to urge Chancellor George Osborne to help manufacturers in the Summer Budget, which will be announced this Wednesday.

The call for action follows a report by the body suggesting the UK is experiencing a 'two-tier' economic growth, with firms in the services sector outperforming manufacturers on all levels, including jobs, investment, confidence and cash flow.

A survey of 7500 firms by the BCC showed increases across the board in the services sector in the second quarter of the year, while there was a continued slowdown in the manufacturing sector in the UK.

John Longworth, director-general of the British Chambers of Commerce said: “The manufacturing sector has battled against structural problems for years but, even in that context, the scale of the slowdown being experienced by our manufacturers is a surprise and a concern.“

According to Longworth, there are the main structural issues facing manufacturers in the UK today:

  • Chronic underinvestment, exuberated by lack of capital and lack of long term incentive
  • Underinvestment in infrastructure
  • Insufficient focus on helping more businesses succeed in new markets overseas

It is these issues which manufacturers across the UK hope to see addressed in the budget announcement tomorrow, and steps taken to revive our once thriving British manufacturing industry.

We're lucky enough to have not felt the impact of the downturn in British manufacturing; our Bolton factory - and our incredible team within - is still producing beautiful bespoke garage doors, but as a proud British Manufacturer, we would, of course, welcome investment into our sector with open arms!