SO, number 10 is now a cosy flat share between the Conservatives and the Liberal Democrats but what does this mean for manufacturing?
The reality is that only time will tell, but George Osbourne, the new Conservative Chancellor has came out and pointed towards reforming corporation tax, making the UK rate the most competitive in the G20. If this actually happens, it will encourage businesses to set up in the UK and boost the country's manufacturing base; so all in all, an extremely positive start to the new coalition.
The big question is do we have enough electricity to meet the potential increased demand created by new manufacturing - or even enough to meet the demands of our ever increasing population? The new government needs to urgently address the very real problem of lack of capacity in the UK grid - electricity shortages are looming and security of supply is paramount for UK plc. Years of under-investment in our generation capacity will shortly come home to roost.
In the meantime, we must all do our bit to use the electricity we have more efficiently and manufacturers can start by deploying variable speed drives and high efficiency motors. This will not only help preserve our precious electricity supply but will significantly reduce their electricity bills!
Take ownership today to help prevent future shortages and increase your bottom line at the same time - enough said!
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