Liberal Democrats in Business

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MANUFACTURING: NO RECOVERY, NO ACTION, NO PLANS

12.23.44pm BST (GMT +0100) Mon 7th Jul 2003

The Index of production figures out today show a continued fall in manufacturing output. Manufacturing output is still below 1995 levels and is still in recession. Matthew Taylor MP, Liberal Democrat Shadow Chancellor,

said:

"Manufacturing is still in deep trouble with output below the levels when Labour came to power. There has been no recovery, no action from the Chancellor, and has no plans to reverse the recession.

"We have already lost more than 500,000 jobs in manufacturing since 1997. How many more jobs must be lost before the Chancellor spells out what he plans to do about slumping investment?

"Gordon Brown's complacency on the economy is threatening jobs, investment and growth."

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