Autumn Statement: EEF makes its case to the Chancellor
14 Nov 2016
Chancellor Philip Hammond is being urged to use next week’s Autumn Statement (23 November) as a means of reassuring nervous businesses with measures aimed at boosting investment and growth in support of a new industrial strategy.
The call comes after manufacturers’ organisation EEF recommended that government provide better support for growing businesses, more productive and flexible workplaces, more reliable and resilient infrastructure, and lower costs of doing business.
The recommendations have been made in a submission delivered to the Chancellor.
EEF chief executive Terry Scuoler said: “The government’s commitment to an industrial strategy has come at the right time with the new administration setting a clear and welcome precedent. The Chancellor has a significant opportunity to put a down payment on this through a range of measures which prioritise productivity growth, boost investment in digital technologies and supports exports.
“The whole of Government must get behind UK businesses and demonstrate a clear appreciation of the need to back such a strategy, backing sectors while also tackling systemic problems such as skills, energy costs and infrastructure weaknesses.”
Meanwhile, in a similar plea made earlier this month, trade body Oil & Gas UK called on the Chancellor to help boost investor confidence in North Sea exploration and production.
According to Deirdre Michie, Oil & Gas UK chief executive, the Chancellor has “a real opportunity” to use the Autumn Statement to send a clear message to investors that the UK Continental Shelf (UKCS) is a great place to do business.
