Reported by The Guardian, it is expected that there will be an impressive recruitment drive within the manufacturing industry. Figures suggest that the headcount will grow at its fastest rate in more than a decade.
The improving conditions within the Eurozone are said to have fuelled this optimism alongside increasing consumer demand and will be welcome news to George Osborne who delivers his Budget tomorrow, 19th March.
31% of companies surveyed planning to recruit over the next three months with hiring intentions strongest among electrical and car manufacturers. The survey by manufacturing trade body EEF and accountancy firm BDO have used these results to urge the chancellor to ensure actions within the budget helps to create the best possible business backdrop, ensuring that positive intentions are transferred into action.
Commenting on the results, Lee Hopley, EEF’s Chief Economist, said: “This is the most positive set of indicators we have seen for some time, demonstrating that we’ve not just turned the corner, we’re actively heading down the right road. Manufacturers are clearly feeling more confident as their order books fill up and exports are strong. It is now vital that government does all that it can to underpin support for companies, giving manufacturers the confidence to fulfil their investment and recruitment plans.”
In a separate survey by KPMG, executives at 161 businesses set out what they wanted to see in the Budget. The majority sought measures to increase government investment and ‘put more money in people’s pockets’.
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