Friday Brief Intro 29/07/2022

Good afternoon and welcome to the last Friday Brief of the month!

We’ll kick things off this week with a story from Jack Semple. Jack Semple, Secretary of EAMA (of which MTA is a member), has taken a look at a speech made by Sir Kier Starmer (leader of the Labour Party) earlier this week. This was focused on the need for economic growth and included a number of pertinent remarks about manufacturing. The highlights and comments from Jack are in the article below.

Department for International Trade (DIT) is hosting a virtual engineering and manufacturing mission to India in September 2022. This will be their second virtual mission to India, building on the successful engagement last year. They invite innovative UK companies in diverse manufacturing technologies to join their mission and use this excellent opportunity to promote and pitch about your innovative technology and engage in B2B meetings directly with Indian companies to explore new business opportunities. Find more details in the stories below.

The government has announced its public consultation on the design of a UK Single Trade Window border system and the development of any future legislation required to deliver it. The government said it must amend current legislation governing the collection, use and sharing of data and legislation underpinning specific declaration types, to ensure it is compatible with the STW. Read more about the key areas in the story.

The government has revived the Recovery Loan Scheme and it will now continue for another two years with some changed conditions – more details in the story below.

We have a mixture of economic news this week, led by the latest results from the CBI Industrial Trends Survey where the principle headlines are around the slowing pace of growth (but still growth) for both output and orders; however, there is some good news in that one of the strongest industries for output this month was aerospace. There is more, perhaps surprising, good news in a modest improvement in investment intentions in this survey despite the general economic and political gloom in the UK at the moment. We take a deeper look at the surveys results in the article below.

Also in that article we cover the production data for the UK automotive sector (both cars and engines) for the first half of the year and we have a note about the UK manufacturing profitability data. The final element of the story is the latest results of the European Commission Economic Sentiment Index which has fallen back quite sharply across most of its sub-sectors (including industry) this month and is now below its long-run average for the first time since early in 2021 during the initial pandemic recovery.

That concludes the Friday Brief for this week! We hope you have a lovely weekend and look forward to seeing you again next week for more news and updates!

ECONOMIC NEWS

CBI Industrial Trends Survey, July 2022: The trends identified in the latest CBI Industrial Trends Survey (ITS) show an easing of manufacturing demand with output and orders slowing to post-lockdown lows; however, both measures are still above their long-run average, so it is not all gloom. Employment in the sector continued to rise although labour […]

Recovery Loan Scheme loan scheme extended

Jack Semple, Secretary of EAMA reports that the government has revived the Recovery Loan Scheme (RLS), which will continue for another two years with some changed conditions. The RLS, which succeeded the better-known CBILS scheme, formally ended at the end of June. Business groups, including EAMA (of which MTA is a member), had urged that […]

India-UK : Partners in Manufacturing and Engineering – Virtual Trade Mission 2022

Department for International Trade (DIT) is hosting a virtual engineering and manufacturing mission to India in September 2022. This will be our second virtual mission to India, building on the successful engagement last year. We invite innovative UK companies in diverse manufacturing technologies to join our mission and use this excellent opportunity to promote and […]

Sir Kier Starmer on Manufacturing

Jack Semple, Secretary of EAMA (of which MTA is a member), has taken a look at a speech made by Sir Kier Starmer (leader of the Labour Party) earlier this week. In the noise of the Conservative Party Leadership context, it did not get much intention, but it is worth taking a look at, especially […]

UK TRADE WINDOW CONSULTATION – GOVERNMENT SEEKS SUPPLY CHAIN TO RESPOND

The government has announced its public consultation on the design of a UK Single Trade Window border system and the development of any future legislation required to deliver it. A Single Trade Window (STW) is a digital portal through which traders can input all customs and trade data relating to a goods movement, helping to […]

Friday Brief