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On the road to nowhere

Manufacturing slump undermines chancellor’s claims
Alex Flynn, Friday, June 12th, 2015


George Osborne’s ‘march of the makers’ is stuck on the ‘road to nowhere’ warned Unite, as official figures released earlier this week (June 10) showed a decline in manufacturing with output still 4.4 per cent below its pre-recession peak.

 

The slump in manufacturing undermines the chancellor’s claims of a re-balancing of the recovery, which is being led by consumer spending and the dominant services sector. The Office for National Statistics (ONS) figures come hours ahead of chancellor George Osborne’s annual Mansion House speech.

 

“These figures show manufacturing is still five per cent below the pre-recession peak,” said Unite assistant general secretary Tony Burke. “George Osborne’s lack of any joined up industrial and manufacturing strategy is to blame, leaving his march of the makers stuck on the road to nowhere.”

 

“The question marks on continued EU membership and the deep cuts planned for the July budget are adding to the gloom and uncertainty among manufacturers and our members,” he added.

 

Burke argued that UK manufacturing needs an industrial strategy that addresses skills, investment and low productivity.

 

“We would urge George Osborne to drop the soundbites when he delivers his budget next month and put decent jobs and manufacturing at the heart of the UK economy.”

 

Find out more about Unite’s manufacturing strategy here.

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