£50m investment secured for MAS
The government has pledged to invest £50m in the Manufacturing Advisory Service. A review into how the advanced manufacturing sector can grow was launched by business minister Mark Prisk.
The review examines how ministers can remove the “barriers which are preventing the UK becoming Europe’s leading exporter of high value goods and stopping people from seeking a career in engineering”.
The £50m will be invested into the service over a three-year period.
Prisk confirmed that an advanced manufacturing summit would be held in January, and would be attend by deputy prime minister Nick Clegg, Vince Cable and himself.
Mark Prisk said: “A strong manufacturing base is essential for a balanced economy, where exports and investment drive growth, not debt and unsustainable government spending.
“The review into advanced manufacturing will see the government align with industry in our shared ambition to put manufacturing industries on a more solid footing than in the past decade.
“A strong manufacturing base is essential for a balanced economy, where exports and investment drive growth, not debt and unsustainable government spending.
“I am looking forward to the manufacturing summit which will be an opportunity to agree actions that government, industry and education can take over the next ten years to meet our challenging ambitions."
He added that the multi-million pound investment would help support small and medium sized enterprises to become more productive and competitive.
