Manufacturing gets £20 million lifeline

Fri 15 Aug 2008 at 4:51 PM

UK manufacturing is to receive £20 million so firms can better develop their international reach.

The Technology Strategy Board will invest the money into vital new research and redevelopment projects.

Science and innovation minister Ian Pearson said: "Manufacturing is a vital sector of the UK economy, accounting for over 50 per cent of our exports."

He explained the money will "enable us to maintain and improve the quality of the UK's manufacturing capability in key areas such as aerospace, healthcare, energy and recycling".

Latest figures from the Office for National Statistics showing rising unemployment revealed manufacturing jobs were hardest hit.

They showed the number of employees in the sector fell by 37,000 in the three months to June compared to one year previously.

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