Professional Engineering

Half of manufacturing firms believe the government's strategy to rebalance the economy is wrong, according to a new study.

A survey of 1,000 firms by the Institution of Mechanical Engineers (IMechE) revealed criticism of ministers' efforts to boost manufacturing, with 54% saying the government was performing badly.

IMechE president John Wood said: “Manufacturing has been the engine of the economy, helping to drive us out of recession, but the recent alarming slowdown in the sector's growth means we now need to see government and industry pull out all the stops to get manufacturing back on track.

“This report shows that, worryingly, a majority of manufacturers think the government has the wrong strategy to make this happen.

“Manufacturers want to see the government's rhetoric translated into action. This means introducing incentives for businesses to create new products and investing in the engineering skills that are crucial for Britain's future.”

The survey showed that three out of four firms believed the government was more committed to the finance sector than to manufacturing.

The Conservatives had the biggest approval rating with 9% of respondents. Labour followed with 2% while just 1.1% of manufacturers showed approval for the Liberal Democrats.

Business Minister Mark Prisk said: “A strong manufacturing base is an essential component of a balanced and dynamic economy, which is why we announced a package to stimulate the growth of manufacturing at Budget time.

“This included making funding available to provide at least 250,000 more apprenticeship places over the next four years, compared to the previous government's plans.

“We want to promote manufacturing as a career to the brightest and best students and later this year we will launch a new initiative where cutting-edge automotive companies will throw open their doors to schools and colleges up and down the country.”