Manufacturers in Lancashire have been given a boost by measures announced in George Osbourne’s budget, an industry leader said today.
Darrell Matthews, North West Region Director at EEF, the manufacturers’ organisation, said: “Manufacturers in the North West should be delighted – the Chancellor said this would be a Budget for manufacturing and he has more than delivered on his word.
“The Government has sent a strong message that it clearly recognises the need to make the competitiveness of the UK a priority and this will benefit hard-working companies across our region as well as up and down the country.”
The Chancellor unveiled a package of measures to help businesses, including financial help for exports.
The Chancellor has doubled the amount of finance to £3bn, with interest rates cut to one third.
Mr Matthews said “We made a strong case for the need to reduce the rising cost of energy faced by so many companies and the Chancellor has acted on that.
“Taken together with measures to boost investment, exports and skills, the Chancellor deserves a pat on the back.”
Mr Matthews said his organisation had advocated that to achieve a resilient recovery the Government must back manufacturing. This Budget had been a great help.
He added: “We now have some of the building blocks in place which will help rebalance the economy. But, as the Chancellor suggests, there’s still more work to be done.
“We now need to take steps which will lead to longer-term solutions beyond current spending and electoral cycles. This will finally give business the predictability and certainty to encourage the successive rounds of investment our economy needs.”