UK manufacturers believe change in government will boost growth

(Alliance News) - Three in five manufacturers believe the change in government will lead to ...

Alliance News 15 September, 2024 | 8:27AM
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(Alliance News) - Three in five manufacturers believe the change in government will lead to better UK economic growth in the next year, new research suggests.

Only 6% of more than 300 companies surveyed by Make UK and BDO said they expected economic growth to decline.

Make UK said it has upgraded its forecast for the economy overall in 2025 from 0.8% to 1.8%.

Fhaheen Khan, senior economist at Make UK, said: "This quarter presents a tale of two halves with output turning negative and recruitment taking a dip, yet investment remains positive and business confidence continues to climb.

"With an autumn budget and Spending Review fast approaching, now is the time for government to pick up the pace and deliver on pre-election promises, most notably the publication of a long-term robust Industrial Strategy."

Make UK called for measures to tackle the "disastrous" apprenticeship numbers.

Richard Austin, head of manufacturing at BDO, added: "Manufacturers are hopeful that a period of greater political stability will provide a better economic outlook ahead, and that in turn is boosting business confidence."

source: PA

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