New manufacturing initiatives will need change of government mindset

The policy statement "Building Britain's Future - New Industry, New Jobs" identifies key areas where government action can have most impact, “investing in growth to speed recovery and building manufacturing and services essential to ensure British people and businesses can compete successfully for the jobs of the future”. Business Secretary Lord Mandelson (pictured), speaking at Loughborough University Innovation Centre, said the world's economy was set to double in size creating major new opportunities but the UK couldn’t afford to stand back as other countries invested and skilled-up to win in high-value markets and sectors. The barriers that hold business back needed to be removed, he went on. Innovation, skills, finance, infrastructure and trade were the key areas for attention. They included ensuring finance for high growth, high innovation firms, more support for exporters, improving education and training, smarter government, better infrastructure from energy to broadband and concerted action to back sectors like pharmaceuticals, aerospace and plastic electronics. The manufacturers’ organisation EEF welcomed the announcement. Its chief economist Steve Radley said the statement needed to be complemented by the measures announced in Wednesday’s Budget, not undermined with future tax rises. “Any change in strategy will require a significant change in mindset if government departments are to deliver real change in the UK’s business environment,” he concluded.