In this issue
EEF at the Liberal Democrat conference | Energy and innovation on the agenda with Exchequer Secretary to the Treasury | Applications sought for Regulatory Policy Committee | In the media | Week in review |The week ahead
EEF at the Liberal Democrat conference
EEF sponsored a New Statesman panel debate at the Liberal Democrat Party conference in Glasgow on the subject of ‘Coalition 2015: Will the Liberal Democrats fight for manufacturing?’. EEF made a pitch for the Liberal Democrats, as part of a future coalition Government, to focus on economic rebalancing and adopt manufacturers’ top five policy priorities.
The Secretary of State for Business, Innovation and Skills, Vince Cable MP, spoke at the event on the current revival in manufacturing and the growing sense of optimism from companies. He also spoke about the current Europe debate and said that Liberal Democrats are absolutely clear that they want the UK to remain in the EU.
You can find EEF’s responses to the keynote conference speeches made by Vince Cable here and the Deputy Prime Minister Nick Clegg here.
For more information contact Celia Surtees, Government Affairs Adviser
Energy and innovation on the agenda with Exchequer Secretary to the Treasury
EEF met with the Exchequer Secretary to the Treasury, Priti Patel MP. During the meeting we called on the minister to bring forward the Budget commitment to compensate the most electro-intensive industry sectors for the cost of renewables within electricity costs.
We welcomed HM Treasury’s decision to temporally pause the on-going Landfill Tax Escalator, which currently stands at £80 per tonne of waste sent to landfill and raises £1.2bn per year in tax receipts. We argued that before Treasury make any decision on the future direction of this tax, paid by all manufacturers, that government seek to improve its data on the amount, distribution and makeup of Commercial and Industrial waste to better understand infrastructure needs.
On innovation, we highlighted that whilst business must play its part, current funding for innovation is significantly underweight. The budget for Innovate UK should be increased, or at the very least maintained in real terms at the level of its 2015/16 spending allocation. We also highlighted the need for government to make significant progress with implementation plans for projects currently at the scoping stage within the National Infrastructure Plan.
For further information please contact Celia Surtees, Government Affairs Adviser
In the media
The Daily Express mentioned EEF in an article on the potential impact of holiday pay on Scottish business.
Our response to the latest IoP data featured in The Financial Times (subscription required).
Week in review
↔ Index of Production
Total production in August 2014 was flat at 0.0%. However, manufacturing output was up 0.1% in August. Output rose in 10 of the 13 manufacturing subsectors. The largest contributors to growth were rubber and plastic products, and other non-metallic mineral products.
↔ MPC decision
The MPC voted to maintain the Bank Rate at 0.5%, and maintain the stock of asset purchases at £375 billion.
The week ahead
14th Oct: Consumer prices; producer prices
15th Oct: Labour market statistics