Put manufacturing first says PSP
BUSINESS group Private Sector Partners is calling for manufacturing to be at the heart of the general election battleground.
PSP, which speaks for 140,000 North West businesses employing 1.3 million people, says huge changes are needed to revive industry and help the economy recover from recession.
Founder and leader Len Collinson believes all major parties are paying more attention to manufacturing in the knowledge that the public sector and consumer credit boom are unsustainable.
He said:”The Conservatives said last week that ‘we must start making things again’ if we are to grow. This is absolutely right and nowhere is that more vital than here in the North West.
“We were a powerhouse of manufacturing generating £19.5 billion and employing 423,000 people between 1991 and 2001, the highest of all the English regions.
“But it is now generally accepted we cannot rely on the growth drivers of the last decade – the financial sector, an expanding public sector and consumers’ spending linked to the housing bubble.
“To generate wealth and jobs we have to look to manufacturing again, which of course has been neglected by successive Governments and allowed, with outstandingly bad judgement, to fall into decline.”
He said strong leadership is required combined with action to ease the tax burden and tide of red tape which he said “has been drowning the sector”.
Mr Collinson is concerned too about British businesses being bought by foreign buyers, who are interested in brands not manufacturing.
“There is an urgent need to prevent our manufacturers being sold off to foreign firms who have no inherent commitment to the British economy.
“The £11bn takeover of Cadbury by the US- owned Kraft was a deafening wake-up call. The UK needs to start baring more teeth to protect our economic interests.
“If we continue with these sorts of sales abroad, there is every chance the foreign owners will pull out of the UK altogether taking our brands and heritage with them.”
PSP is staging a small firms’ summit at the New Campus in Burnley of the University of Central Lancashire.
The event begins at 1pm next Thursday. Tickets cost £25. To register or for more information, contact Emma Ryde on 0161 794 9538 or email eryde@colgranhouse.com.
