I caught an interesting item on BBC breakfast news this morning, on a Nottinghamshire-based manufacturer of children’s safety harnesses which has moved production back to the UK from China. With inflation and labour costs increasing – and forecast to rise significantly over the coming year – production costs in China are no longer attractive and the UK is once more competitive. This has to be great news for all UK businesses.
Speaking on the programme, Lord Digby Jones, Business Ambassador at UK Trade & Investment , also made the interesting point that there’s a general misconception that manufacturing is dead in the UK, yet it still accounts for 12% of our gross GDP, which is more than financial services sector.
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