Cable announces £100m to strengthen supply chains

Speaking at MACH, the manufacturing technology showcase at the NEC in Birmingham, Cable said: "A strong manufacturing sector is vital to a balanced economic recovery and I want to ensure that Britain's supply chains are up to the task of supporting the sector in the long term. "Our industrial strategy, which has given business the confidence to invest, is paying dividends in the reshoring we have seen so far. We will continue to support businesses to secure more highly skilled jobs and a stronger economy." Previous recipients of funding from the Advanced Manufacturing Supply Chain Initiative (AMSCI) have included technology for increasing the scale of 3D printing of metals and reshoring the manufacture of cats' eyes from overseas to the UK EEF chief executive Terry Scuoler said: "This is another welcome boost for British manufacturing, which will have a positive impact on the wider economy. "Our own research shows that in the last three years, one in six companies have re-shored production back to the UK with many turning to a UK-based supply chain for parts and components. High value manufacturing creates jobs and wealth here so I'm delighted to see the government getting behind it." AMSCI is a funding competition designed to improve the global competitiveness of UK advanced manufacturing supply chains and encourage major new suppliers to locate in the UK. Four previous rounds of funding have secured nearly half a billion pounds of public-private investment to 44 projects including more than 180 organisations.