Prioritise growth measures, urges EEF survey

Manufacturers can improve their cashflow through invoice finance, which specially works to relase cash businesses may have tied up in unpaid invoices

The government should prioritise finding ways to kick-start economic recovery instead of reducing the deficit, new survey findings from manufacturing organisation EEF have suggested.

350 companies were surveyed by EEF, with almost 80% feeling that new measures to instigate growth should be promoted.

40% of respondents also felt that the Government should push eurozone leaders to resolve the debt crisis sooner.

The government was urged by the EEF to focus policy in four areas – lowering costs associated with running businesses in the UK, creating a more flexible labour market, increasing the ease at which companies to bring services and products to market and helping growing enterprises focus on exporting.

Terry Scuoler, chief executive of the EEF, felt the survey results accurately reflected the manufacturers’ views across the UK: “Manufacturers have always supported the need to reduce the deficit and get the public finances back in order.”

“However, this was conditional on government also committing to delivering on the plan for growth,” he concluded.