Government launches two-year project focusing on manufacturing sector
News Article - 27 December 2011
Category:
Industry
The Government Office
for Science has given the go-ahead to a new two-year project
run by Foresight, calling upon industry and academic skills to
overhaul the manufacturing sector.
The scheme will seek to review global trends and drivers of
change in a bid to ensure the UK maximises the opportunities
available throughout these challenging economic times.
Sponsored by the Department for
Business, Innovation and Skills, the findings of this two-year
project will inform Government policy over the next 24 months and
beyond.
Vince Cable, Business Secretary, said at the Financial Times
Future of UK Manufacturing Conference: "Manufacturing has a key
role to play in economic growth, in particular driving exports and
productivity.
"But as industries and technologies evolve, we need to make sure
we're staying ahead of the game.
"[The project] will make a powerful contribution to our work
supporting British industry and to making sure that we retain our
position as a world-class manufacturing nation at the cutting edge
of new products and processes."
The project is being led under the direction of the Government's
Chief Scientific Adviser, Professor Sir John Beddington, who
believes it is critical to enhance the nation's understanding of
technology and globalisation in order to breathe new life into the
manufacturing sector.
He said: "This work will help the UK position itself [in order]
to maximise opportunities in manufacturing, mitigate risks and deal
effectively with future uncertainties."
There is significant optimism from leading figures within the
manufacturing sector regarding the new project, with the belief
that it can bring about measures to reduce the cost of finance in
order to stimulate manufacturing growth.
Terry Scuoler, chief executive of the manufacturers'
organisation EEF, said: "This is welcome recognition of the growing
importance of manufacturing to a new and rebalanced economy.
"In tandem with these medium to long term aims, we also need to
lay the foundations by getting the short term right which means
sweeping away the immediate barriers to growth which are holding
companies back from investing now."
Article keywords:
uk business, industry, manufacturing
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