Bring back industrail bank says EEF (From Wiltshire Business Online)

Bring back industrail bank says EEF

1:00pm Thursday 2nd July 2009

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Manufacturers in the south west are urging the reinstatement of an industrial bank to support future growth across the region.

Publishing its new manifesto for manufacturing - 'Manufacturing Our Future'

- EEF sets out a vision for a more diverse and durable UK economy and makes bold recommendations to back it including a National Economic Council charged with delivering it and a new industrial bank .

EEF, which represents manufacturers across the south west, outlines a strategy for a more diverse, agile and innovative manufacturing sector. It plots a course for a stronger and relatively larger manufacturing base which could provide the solutions to future challenges and help the UK pay its way in the world.

The growth of sectors such as aerospace; medical equipment and the energy and the low carbon technologies associated with the south west, will be vital to the future of the national and regional economies.

Commenting, EEF South West Region External Affairs Adviser Clive Turner, said: 'Manufacturing must play a bigger role in our economy if we are to meet the challenges facing us over the next decade. In the south west, it can be a major player in addressing climate change through low carbon technologies - but this will only happen if our manufacturers show the ambition and make the investments needed to achieve this and the government sets out a framework that gives them the confidence to do it.

"In particular, the government must set out its priorities for the technologies and markets we need to develop and the steps it will take to help the UK succeed in them. The guiding principles in our report will ensure that the UK rebalances its economy and responds to strategic challenges as they emerge on the horizon."

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