Members debate future of pensions system with Minister | Latest EEF survey paints more positive picture for manufacturing | Join us for EEF's political party conference programme | Weekly focus: 100 days of the coalition - where is policy headed | EEF in the press | Week in review | The week ahead
Members debate future of pensions system with Minister
EEF’s Employment Policy Committee was joined this week by Stephen Webb MP, the Pensions Minister. With major changes to the UK’s pensions system set to come into effect in two year’s time, members were keen to find out more about the government’s thinking in this area. From 2012 employers will have a duty to automatically enrol eligible workers’ between the ages of 22 and State Pension Age into a qualifying workplace pension scheme. EEF’s David Yeandle is one of three independent experts currently undertaking a review for the government of how to implement this proposal.
For further information contact David Yeandle, Head of Employment Policy
Latest EEF survey paints more positive picture for manufacturing
The third quarter EEF/BDO ‘Manufacturing Outlook’ published this week reveals that recovery, which began at the end of last year, has been sustained with output and orders balances reaching record levels for the second quarter in succession. This performance continues to be driven by the strength of overseas markets. Greater confidence across the sector is also continuing to translate into some recruitment, albeit anecdotally this is being driven by temporary or agency working which will give employers flexibility should demand begin to slow.
The survey also posted positive investment intentions this quarter, breaking the pattern of previous recessions by recovering at an earlier stage in the cycle. However, the short-term optimism highlighted by EEF’s survey is shaded with a degree of caution about the risks to growth in 2011. But the sector should continue to grow this year and next, with expansion of 3.7% and 3.2% forecast respectively.
Join us for EEF’s political party conference programme
The autumn Party Conference season is traditionally a good opportunity to meet and influence policy-makers, especially this year with a new Government and soon-to-be elected new leader of the Labour Party. EEF is running the following events, which are open to guests.
‘Road to recovery: The role of UK manufacturing and competiveness’
A Fabian Society policy roundtable seminar supported by EEF, the manufacturers’ organisation and the Food and Drink Federation
Speakers: Adrian Bailey, Chair, Business, Innovation and Skills Select Committee; Adam Lent, Head of the Economic and Social Affairs Department, TUC; Juergen Maier, Managing Director of the Siemens UK Industry Sector; Chair: Sam Fleming, Economics Editor, Times Online.
Labour Party Conference, Monday 27th September 2010, 8 - 9.30 am, Manchester Town Hall, Manchester
Places are limited and filling fast; please RSVP in good time to kklebba@fabian-society.org.uk
‘Developing new talent – how can the UK win the international skills race?’
A policy debate sponsored by BAE Systems and EEF, the manufacturers' organisation
Speakers: Jonathan Guthrie, Enterprise and Midlands Correspondent, the FT (Chair); Conservative Speaker tbc; Nigel Whitehead, Group Managing Director Programmes & Support, BAE systems; Will Hutton, Executive Vice Chair, The Work Foundation; and Lee Hopley, Chief Economist, EEF
Conservative Party Conference, Tuesday 5 October, 8 - 9.30am
Hall 10a, The ICC, Birmingham (this event is inside the secure zone, therefore a pass is required)
Refreshments provided
RSVP: scoventry@eef.org.uk
‘Size Matters? Does the UK Need More, Larger, Manufacturing Companies?’
An Enterprise Forum debate sponsored by EEF, the manufacturers’ organisation
With some notable exceptions, manufacturing in the UK is characterised by a lower proportion of large manufacturing companies in comparison to other industrialised nations such as the USA and Germany. This debate asks does this matter and if so what can we do about it?
Speakers: Rt. Hon. David Willetts MP, Minister of State for Universities and Innovation; Steve Radley, Director of Policy and External Affairs, EEF; Sir Richard Needham, Deputy Chairman, Dyson Ltd; Jonathan Guthrie, Enterprise and Midlands Correspondent, the FT
Conservative Party Conference, Tuesday 5 October, 12.45 – 2pm, Jubilee Suite, Copthorne Hotel Birmingham (outside the secure zone)
Open to the public, refreshments provided
RSVP: info@enterprise-forum.co.uk
Weekly Focus
During the summer the Coalition Government celebrated 100 days in office. To mark that milestone and now that a new Parliamentary term has begun, this note '100 days of the coalition - where is policy headed' assesses the impact of the government on manufacturing so far.
EEF in the press
Our Trends survey (see above) received good press coverage this week and you can read some of the highlights here and here. Indeed the Daily Telegraph went as far as to suggest the positive indicators from the survey were a factor in boosting the FTSE on Monday morning. We also discussed the latest trade figures with The Independent. Elsewhere you can read our latest opinion piece for the Manufacturer and a report from the FT from the previous week outlining EEF’s concerns about the introduction of Local Economic Partnerships.
Week in Review
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 EEF/BDO Business Trends
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A balance of 32% of companies reported rising output over the past three months and 33% of companies reported increased orders. Investment intentions turned positive for the first time since the recession began, and a record balance of companies said they had taken on workers in the past three months. |
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 BRC Retail Sales Monitor
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Like-for-like retail sales values were up by 1.0% from August 2009. Growth in food sales slowed whilst clothing and footwear sales grew. |
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 Index of production
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Manufacturing output rose by 4.9% between July 2009 and July 2010. The largest increases in output were in: machinery & equipment (+17.7%); basic metals & metal products industries (+12.4%). |
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 UK Trade
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The UK Trade deficit widened to £4.9bn in July, from £3.9bn in June. The surplus on trade in services grew slightly but the deficit on trade in goods widened significantly to £8.7bn. |
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 MPC Announcement
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Interest rates remained on hold at 0.5% and the quantity of money asset purchases was unchanged. |
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 Producer prices
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In the year to August output prices rose by 4.7% and input prices rose by 8.1%. Month on month output prices were unchanged and input prices fell by 0.5%. |
The week ahead
Tues 14th: CPI; CLG House Price Index
Wed 15th: Labour Market Statistics
Thu 16th: Retail Sales; EEF Pay Settlements
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