Policies supporting manufacturing will be vote-winners EEF tells party leaders
MANUFACTURING organisation, EEF, has urged Britain’s political leaders to back policies that will rebalance the UK’s economy and a new poll revealed strong support for such a move.
The call follows new research confirming widespread support for industry’s demands for better-balanced growth. The research found 63% of people want to see Britain enjoying a better-balanced economy where growth is sustainable and the economy is growing across different sectors.
The YouGov study found voters wanted to see Britain making more (59%), exporting more (64%) and competing more effectively with other countries (58%).
EEF said consumers also wanted in place long-term plans that would protect and ensure the economic recovery could be sustained. The latter point is expected to form a crucial issue for voters in the lead up to next year’s General Election.
Almost 80% of people surveyed said economic security was vital – a point shared by industry leaders. At the same time, 68% of those questioned said that if current economic and business policies were working well they should be left alone.
The organisation said the mood music from voters was that a better-balanced economy would give greater long-term security and resilience – and that manufacturing had a key role to play in this.
The survey also found that 85% of voters want the next Government to promote a stronger UK manufacturing base, believing it will deliver more jobs (79%), economic growth (64%) and greater prosperity (56%). Almost two-thirds (62%) said they thought a stronger manufacturing sector would give the country more economic security.
Manufacturing is also the sector consumers most want to see grow – 48% compared to the next closest sectors: services (15%) and construction (15%).
However, it said that with so much emphasis on strength and security, there were clear concerns over the timing of the next election and what it could mean for Britain’s economic bounce back. Of those questioned, 72% said the election came at a critical point for the recovery, while 77% said that the upturn could be affected by the election’s policy outcomes.
Richard Halstead, Midlands Region Director at EEF, said: “The message to parties and political leaders is loud and clear: a strong, rebalanced economy has to be the long-term end goal and at the heart of your election offering.
“Industry and voters are singing from the same hymn sheet. We want a robust, stable and resilient economy with a clear focus on balanced growth and this is a message party leaders must not fail to take into the election and beyond.”
He said a stronger manufacturing base was a vital component – and while it was not a ‘cure all’ for every economic ill, British industry did have a fundamental role to play in building a better-balanced and more robust economy. Government can and should focus policies on delivering this aim, he added.
“There is no room for complacency. While the UK is on the right path, we still have a long way to go. We cannot afford to lose focus. Net trade is still weak, investment is still below pre-recession levels and, while manufacturing has gained ground, more can be done to create the right conditions for manufacturers and wider industry to thrive and grow. Better-balanced growth must still be our 2020 destination and we are looking for all parties to commit to this ahead of the next election,” he added.
