Investment encore

Posted on 8 Mar 2010 by The Manufacturer

Applauding a recent investment of £3.8 million into Tees Valley businesses, EAL (EMTA Awards Ltd) calls for more.

To coincide with the close of Manufacturing Week EAL (EMTA Awards Ltd) says that while the recent show of government support for industry in the north east is encouraging, further investment is needed nationwide.

EAL assert that more funding will encourage companies to maintain their manufacturing facilities in Britain against the temptation of off shoring. Manufacturing Week raised awareness of the threat that foreign competition poses to the UK’s industrial prosperity with assessments of Chinese activity in the aviation market and startling news of the potential loss of the UK based share in the A400M aircraft programme to partner nation, Spain.

EAL highlights the need for government to make financial concessions to the manufacturing industry which, according to figures from the CBI 2010 “Manufacturing Policy Framework” employs 10% of the UK workforce. The organisation are confident that further funding would make a valuable contribution to lifting Britain out of recession and rebalancing the economy.

A leading awarding body for engineering NVQs, EAL argue that further investment ought to be targeted at learning and development. In particular the organisation demands funding for skills development in advanced manufacturing and green technology which will be needed if Britain is to compete globally in the future. EAL Managing Director, Ann Watson, says that immediate investment would result in mid and long term rewards: “Apprentices are a long term strategic investment, so it is great that the government is recognising this in the case of Tees Valley. But, it is not enough.”

Watson has called for the investment to be repeated nationwide to ensure that the manufacturing industry continues to develop fully. She continued: “Tees Valley needs to be the first of many government investments. The industry needs consistent support in order to grow and flourish. Manufacturing is an area where upfront investment will reap tangible rewards by ensuring that the necessary technologies and machinery are available and of course the skills to be able to use this capital investment to the full, and the government needs to recognise that.”