A closer look at the issues at stake.
Investment intentions have taken a hit among UK manufacturers as they wait for clarity on Brexit, so we take a closer look at the issues at stake. The latest CBI Industrial Trends Survey, released in October, provided some sober reading on the prospects for manufacturing in the UK.
Among the findings, 30 per cent of the survey’s participants were concerned that access to skilled labour was likely to limit output over the next three months – the highest proportion since 1974. Planned spending on plant and machinery over the year ahead is expected to be scaled back at the fastest pace since July 2009, while further cuts were planned for investment in buildings, training and innovation budgets.
“Ongoing uncertainty around Brexit has made for a particularly tough quarter for the UK’s manufacturers,” said Tom Crotty, Group Director of INEOS and Chair of the CBI Manufacturing Council.
“Protecting jobs and people’s livelihoods from a l
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