A report by the Work Foundation urges extension of emergency funding to manufacturing firms if the government really intended to help the UK’s “real economy.”

Work Foundation argues that manufacturing stood best chance of an economic upturn in the backdrop of uncertain performance by the financial services sector and should be provided same access to fund as given to financial services.

According to Ian Brinkley, director at Work Foundation, writing off modern manufacturing, which was getting battering from recession, would be a big mistake. He suggests that we must constantly think what we will be going to live on in future. Ian advocates that as much of industrial base as possible needed to be preserved, since once lost it would be impossible to get it back again. According to him manufacturing sector is highly important for retention as well as creation of jobs, exports and GDP.

Work Foundation report recommends more support for the much transformed UK manufacturing in the area of research and development. TUC general secretary, Brendan Barber, welcomed Work Foundation report which recognised importance of manufacturing to the economy and post-recession future. He added that European countries acknowledged importance of retaining skilled teams during recession, it is therefore necessary that government comes forward to help firms preserve knowledge and skills of their workforce during recession.

Derek Simpson, leader of Unite, was glad that Work Foundation was joining their campaign in seeking support for manufacturing during recession.

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