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Govt announces £170m manufacturing boost

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Govt announces £170m manufacturing boost

Wednesday, 12/10/2011 01:24
The government has announced a new package of measures designed to encourage the UK to improve its manufacturing sector, which could create new demand for logistics process improvement.

A total of £170 million will be used on measures including the funding of a high value manufacturing technology and innovation centre, which will be formed from seven existing research and technology sites around the country.

The Technology Strategy Board will also be running an £18 million competition to fund products inspired by new discoveries and breakthroughs.

Vince Cable, business secretary, highlighted the importance of developing a modern industrial strategy fit for the 21st century.

He said: "Manufacturing has a key role to play in economic growth and rebalancing the economy, in particular driving exports and productivity."

In other news, the Department for Transport has announced the launch of a new trial for extended articulated lorries that is expected to serve as a £33 million boost to the haulage industry.

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