EEF calls for further cut in rates

They believe there is a significant weakening of activity indicators and a poorer international outlook. Tighter credit conditions, as well as a clearer slowdown in the housing market, are also impacting on consumer confidence.

Commenting, Representation and Strategic Development Manager, Peter O’Grady said:

“The evidence from the past month points to a growing risk of a weaker economy both at home and abroad.

“While manufacturing has been in good shape, it would not be able to escape the negative effects of a downturn in domestic and export markets. The Bank therefore needs to act quickly to offset the impact of deteriorating financial conditions on the UK economy.”

EEF West Midlands is the largest employers’ association in the region, representing primarily engineering, manufacturing and technology-based organisations. Serving those member companies is a team of 160+ staff providing a wide range of experience and expertise.

EEF West Midlands supports and advises on all aspects of HR including employment law and employee relations (ER). The ER team handles hundreds of employment tribunals for members annually. Other areas of support include health, safety and the environment. With its training centres, EEF West Midlands can also help develop the workforce required for businesses to succeed. Regionally and nationally EEF represents the interests of those determining the economic and social conditions in which employers operate.