The strong pound affecting British exports is obviously a key factor when it comes to the manufacturing sector’s slow recovery and the overall global economy isn’t helping either – especially when it comes to China.
Meanwhile, the TUC has been quick to criticise chancellor George Osborne. It suggested that Osborne should be investing more in the industry instead of cutting public services and tax credits so as to promote demand for goods.
Another challenge comes from the Union, which sets an example of making demands without basing it on facts and figures. It also sets an example of being a group of aggressors who would rather destroy businesses than work together to promote healthy ones.
And now the Conservatives are demanding wage increases to reward the working family. That is as mad an economic suggestion as the Unions. How are manufacturers, which are still arguably stuck in recession, supposed to supply high wages?
Read more about manufacturing:
- How London can lead the way in matching Germany’s manufacturing
- Manufacturing: How to enter into a collaboration with another firm
No wonder it is incredibly hard for British manufacturers to achieve teamwork, high standards, customer satisfaction, dedication, as well as other vital components that are needed to make businesses successful.
With such a lack of positive help on either side of the divide it is a small wonder that people are reluctant to invest in British manufacturing. With lack of investment in energy, many are also worried about the energy capacity in Britain to supply the manufacturing – which is causing additional problems.
Considering the current world economic problems, we should be positive about the UK still achieving growth.
We do not need further talk of the possibility of overall decline into recession. More needs to be done on every side to pull manufacturing out of its current state if it is to survive and if it does not, there will be little of the service industry left.
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