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UK government urged to support manufacturing

31 August 2011
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UK government urged to support manufacturingThe government in Britain should provide greater support for the manufacturing industry, in a similar way to that seen in Germany, one industry leader has declared.

In an interview with the Financial Times, chairman and owner of JCB Sir Anthony Bamford stated the UK should emulate the European nation by committing more strongly to the sector and ensuring banks provide finance to such companies.

He noted: "There are four or five main banks in Britain, while there are a few hundred [including local savings and co-operative banks] in Germany."

In comments that may be of interest to operations management professionals, Sir Anthony told the news source that this system allows for greater lending to small and medium-sized enterprises and would enable the government to refocus and rebalance the economy away from financial services.

The expert advocated businesses follow his company's pattern and remain private in order to generate long-term sustainable growth and investment.

Figures from Markit and the CIPS for July showed a contraction of the manufacturing industry over the month from June for the first time in two years, as domestic demand for products weakened.ADNFCR-3058-ID-800715044-ADNFCR
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