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Anorak | Manufacturing’s Coming Back To The UK

Manufacturing’s Coming Back To The UK

by | 31st, December 2013

MANUFACTURING is coming back to the UK. That’s what Vince Cable claims at least, that there’s more manufacturing coming into the UK than there is leaving for places with cheaper labour :

Vince Cable has heralded the prospect of British manufacturing “becoming great again” as he revealed that twice as many small and medium sized manufacturers are bringing production back to the UK as are sending work overseas.

In what will be viewed as a boost for the British economy, Mr Cable, the Business Secretary, disclosed details of a new Manufacturing Advice Service (MAS) survey which shows that 11pc of respondent’s reshored production to the UK in the past 12 months, against 5pc who had sent production overseas.

We’re not going to get the return of mass employment in manufacturing, of course. For it’s now becoming cheaper to put a series of robots on a line than even using armies of poorly paid Chinese. Mainly because Chinese wages have risen so much in the past 15 years (from, on average, $1,000 a year to $6,500 a year).

But small scale manufacturing of high value goods, yes, that makes sense to bring it back here. And so, as tends to happen when people see a profit to be made, that small scale manufacturing is coming back.

A small

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Posted: 31st, December 2013 | In: Money, News Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink