UK manufacturers have set the next UK Government four key priorities to build on and secure the economic recovery including increasing investment in infrastructure and creating a more productive and flexible workforce.
The priorities, laid out in a business manifesto ‘ Securing a manufacturing renaissance ’ published by EEF , the manufacturers’ organisation, outline how government must work consistently across departments, across all localities and with the UK’s international partners to drive forward a programme for growth.
They are:
A more productive and flexible labour force:
An increase in the take up of maths and science at key stages 4 and 5;
Reform of university funding to increase applications for STEM degrees;
Employers given control of Apprenticeship funding;
Industry given control of developing and retaining vocational qualifications;
A new ‘High Skill STEM’ visa should be introduced;
Employment legislation reforms should be subject to rigorous cost benefit analysis: and
The ‘Fit for Work’ service should improve tax reliefs for private medical treatments which help employees return to work.
Improving infrastructure:
The establishment of a permanent, independent UK Infrastructure Authority;
Make investment in the strategic road network and broadband key priorities;
Alternative funding plans must be found for local and strategic road networks to ensure they are on a sustainable footing beyond 2020;
The UK’s energy infrastructure should be renewed to maximise opportunities for UK supply chains:
·he EU Emissions Trading Scheme must be reformed to prevent carbon leakage; and
UK domestic decarbonisation policy must be reformed to deliver the required energy efficiency improvements.
Reducing the cost of doing business:
The carbon price floor should be removed as soon as fiscally possible;
The compensation scheme for renewable electricity should be introduced as soon as possible;
New targets should be set for deregulation, including for regulations originating in the EU;
The recommendations of the Competition and Market Authority review of SME banking should be implemented;
A long-term commitment to fund the British Business Bank; and
The establishment of an Office for Resource Management.
Better support for growing businesses
Funding for both Innovate UK and Science should be protected;
Funding for the HVM Catapult Centres must be maintained;
Support for exporters must be maintained through UKTI funding; and
Introduce incentives to capture value from waste.
Establish a centre for remanufacturing innovation and introduce incentives to encourage resource efficiency.
Paul Byard, director for Wales at EEF , said: “While the last five years have been about recovery, the next five must be about delivering a better-balanced economy. Some important groundwork has been laid and it is vital the next Government builds on what has worked to date.
“Achieving a true rebalancing of the economy, however, was never going to be easy.
"It will involve tough choices and will not happen over the lifetime of a single Parliament. It is vital therefore the next Government recognises this and sets lofty ambitions to provide the long-term certainty that is necessary for manufacturing businesses to invest recruit and grow in the UK.”