Commenting, EEF Chief Economist, Steve Radley, said:
“Manufacturers will applaud the way in which the government has grasped the nettle over the last week. The unparalleled speed at which events have occurred has demanded a response on this scale to prevent a complete breakdown of financial system. In particular, the provisions for lending to small business are particularly welcome.
Steve Radley added:
“Whilst today’s measures will hopefully address the immediate need, we need to have a fundamental reassessment of manufacturing’s role in a balanced UK economy and, the dangers now exposed of an over dependence as an economy on financial services.”
ENDS