EEF comments on Prime Minister’s speech

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Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, says:

“Business will be delighted by the PM's commitment to maintain low corporate taxes, which is a vital ingredient of confidence and future growth. Businesses want to have confidence that the UK will balance its books in the next parliament. We don’t, however, want to see vital spending on skills, innovation or infrastructure cut to make the sums add up.

“Britain must continue to attract more investment in industry. However, foreign investors will not commit if there is uncertainty over our membership and influence in our biggest trading partner, the EU. The PM’s negotiating strategy appears to be high risk if, as he claims, freedom of movement will be at the heart of his renegotiation.

“The PM's focus on finishing the job in education is welcome and critical to delivering industry's pipeline of new employees. We strongly back efforts to maintain the drive for high quality and high standards in schools. A commitment to high quality apprenticeships has to be a key component of this strategy.

“Whoever voters choose to vote for next May, parties must commit to build on the renewal we are seeing in manufacturing industry and prioritise rebalancing the economy. It is something voters demand, and politicians must deliver.”

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