Engineers Claim they Need Stability for Economic Recovery

CEO at the Society of Motor Manufacturers and Traders, Mike Hawes, expressed that they “congratulate Rishi Sunak on becoming leader of the Conservative Party and Prime Minister,”

“What we now need is a clear and compelling strategy for growth and stability. As a major investor and employer, the automotive industry can help drive an economic recovery but we sorely need a period of stability and a framework for competitiveness.”

ECA’s (Excellence in Electrotechnical and Engineering Services) head of workforce and public affairs, Andrew Eldred, explained that “the electrotechnical sector is a crucial part of the construction industry, which forms the backbone of the UK’s economy. While ECA broadly supports Mr Sunak’s aim to fix the ‘profound economic crisis’ facing the country, we cannot overstate the importance of keeping electrification and decarbonisation front and centre of those plans.”

“We eagerly await next week’s fiscal statement and urge Mr Sunak to prioritise green skills, infrastructure and incentives to boost our renewable energy sector, which in turn will help tackle rising energy bills.”

Although there is hope, success and consistency for the largest companies in the engineering sector may not last long. The London based aerospace engineering company Babcock, and Melrose PLC are among the British businesses that are predicted to be vulnerable to foreign takeovers.

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