Manufacturers welcome full point cut

Release date: 04/12/2008

Britain ’s manufacturers welcomed the Bank of England’s decision to cut interest rates by a further point today amidst continued deteriorating conditions for the UK economy.

Commenting, Steve Radley, Chief Economist at EEF, the manufacturers’ organisation said:

“The Bank has to pull out all the stops to prevent the recession from deepening. It is now essential that government steps up to the plate with targeted measures to support business and get high street banks to start lending again.”

ENDS

Notes for editors

Contact us:

EEF, the manufacturers' organisation - Broadway House - Tothill Street - London SW1H 9NQ
t: 020 7222 7777 f: 020 7222 2782 e: enquiries@eef.org.uk VAT registration number: GB 941 8117 27

EEF Limited is the organisation for manufacturing, engineering and technology-based businesses. It is an employers association regulated under Part II of the Trade Union and Labour Relations (Consolidation) Act 1992 and a company limited by guarantee. EEF Limited is registered in England and Wales, registered no 05950172, and its registered office is Broadway House, Tothill Street, London, SW1H 9NQ