SHADOW Business Minister Jonathan Djanogly, Huntingdon s MP, was shocked that, since 1997, 10 per cent of manufacturing businesses in the UK have closed down and more than 1.5million manufacturing jobs have been lost, he told fellow MPs. Helping manufa
SHADOW Business Minister Jonathan Djanogly, Huntingdon's MP, was 'shocked' that, since 1997, 10 per cent of manufacturing businesses in the UK have closed down and more than 1.5million manufacturing jobs have been lost, he told fellow MPs.
"Helping manufacturing is important for the UK, but also vital for employment and businesses in Huntingdonshire," he told the Commons in a debate on Tuesday. "To encourage high-tech and innovation will be particularly important for my constituency.
"That is why I fully support the Conservative taskforce which is to set out a clear vision for boosting high-tech in Britain."
Mr Djanogly added: "Following the pre-Budget report in November 2008, the Government introduced a number of schemes designed to support businesses through the recession, but more than a year on from the announcement of those (mainly loan guarantee) schemes, a great cause for concern is the lack of progress from the present Government's approach to the challenges facing the UK manufacturing industry.
"The Government were asked to support our industry - an industry that has lost 280,000 members of its work force in the past year alone. Businesses across the UK have experienced, and still are experiencing, acute shortages of finance and working capital."
If the Tories win this year's General Election, he promised less red tape and frequent reviews of new regulations, lower corporation and National Insurance taxes for business, a simpler tax system for companies, a review of employment laws and a radical plan for training, mentoring and apprenticeships.
Mr Djanogly told the House: "Manufacturing should be at the heart of the economy if the UK is to achieve sustainable economic growth. Even given its present challenges, the UK still has the sixth largest manufacturing economy in the world. Manufacturing still produces more than half the UK's exports and it still constitutes more than 12 per cent of our gross domestic product.
"The firms that emerge from the recession will be stronger and leaner for the experience and will be a key factor in UK economic growth.
"Rather than burdening UK business with more burdensome red tape and complex regulatory schemes as the present Government have done, a Conservative Government would provide simple practical solutions to help UK manufacturing businesses to recover from the economic crisis," he averred, with at least one eye on the election.