Commenting on the speech by the Prime Minister, Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, said:
‘The Prime Minister set out a forceful vision for the future of a more equal and secure UK. The economy remains at the heart of this vision because it is the growth of the private sector that will deliver the wealth to pay for the aspirations he set out. With the increasing economic risks on the horizon, the baton now passes to the Chancellor in the forthcoming Autumn Statement and Spending Review to set in stone the building blocks for sustainable growth.
“To be more competitive and strengthen growth across the country, truly rebalancing the economy, the Government must also reinforce in the clearest possible way its support for manufacturing and commit to investment in innovation, support for exporters and delivering on infrastructure promises. In seeking to build a strong and resilient economy the Prime Minister and the ‘iron’ chancellor can really show their mettle by providing tangible support for key foundation industries facing significant difficulties like our steel-makers.
“The Prime Minister talked about securing Britain’s prosperity and influence in his negotiations in Europe. It’s clear that he believes Britain’s best interests will be served by remaining in a reformed EU, and that is a message many in business will endorse.
“His confirmation that the Government will commit to four submarines, and therefore a full and uninterrupted at-sea nuclear capability, is very welcome and should secure the future for the shipyards, industries and jobs this decision supports. It will also help Britain maintain the skills we need in key areas of advanced manufacturing.”