Company Formation Report Reveals Manufacturing Uplift

While it may seem like the general election was a long time ago, it is important the electorate does not forget the policies each political party pledged to implement if they got voted into power.

One of the main promises the then Conservative party leader and now Prime Minister , David Cameron made to the electorate was that he would make the UK the home of manufacturing once more and according to a recent report from the Office of National Statistics, the Prime Minister’s manufacturing drive may have a head start.

According to a recent report the throughout the first quarter of 2010 Manufacturing have increased industrial output by almost five per cent – the highest rate for over ten years.

Jeff Mead, business analyst and advisor to the Confederation of Engineers, comments; “The manufacturing industry has enjoyed an extremely profitable first quarter of 2010. This is the result of an overall more positive economic situation globally which has resulted in an increase in consumer confidence and therefore increased spending.”

“We expect this trend to continue despite the proposed VAT rises and feel that as profitability increases so will number of manufacturing jobs that will become available.”