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Bright future predicted for Midlands manufacturers

02 Mar

Leading economist David Bailey predicts 2011 will be a good year for West Midlands manufacturers despite uncertainties surrounding the economy.

The Coventry University Business professor said last year saw manufacturing bounce back and believes it will continue to outperform the wider economy.

The Midlands has seen its fair share of economic problems more recently, notably with the Kraft take over of Cadbury.

Cadbury should never have been in the situation where it was vulnerable to such a takeover,” said Professor Bailey. “A broader public interest test needs to be reinserted back into UK law. Something which the last government gave up.”

Professor Bailey said; “Manufacturing is an essential part of that, and can provide high quality well paid jobs”. He believes the government needs to offer more support to smaller businesses.

He also outlined the dangers facing manufacturing, including the speed with which the Government is cutting the deficit, which may dent confidence in the economy.

Responding to suggestions that the Bank of England may seek to increase interest rates, he also added; “A low interest rate is needed to keep the economy growing”.

 

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Posted by on March 2, 2011 in Uncategorized

 

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