EEF comment on Labour Manifesto

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Commenting on the Labour Manifesto published today, Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, said:

“This is a comprehensive and detailed plan which contains some sensible individual measures which are worthy of further debate as part of an industrial strategy, as well as ongoing support for key elements of social care. These have to be seen, however, in the context of whether the overall economic plans will be positive for growth, job creation and investment, both UK generated and from overseas.

“Here, it falls down badly with policies that are from a bygone age and an overly interventionist approach. Given the potential impact of Brexit, sending out signals to business promising significant tax hikes and increasing red tape is hardly likely to generate the investment and economic growth we vitally need. Overall we have to ask, do the proposals have credibility in terms of cost and are they practical to implement. The answer is clearly no.”

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