An Office of Resource Management should be established by the next Government, according to EEF- the Manufacturers’ Organisation.
EEF has set out five priorities that it would like to see the next Government adopt in its Manufacturing: Powering the Economy document that sets out an agenda for Government to 2020.
Its five priority areas are:
- Skills – developing existing employees and attracting employees of the future to a career in industry with cutting-edge training and respected qualifications
- Innovation – keeping Britain at the forefront of new technology through research and development with a tax regime that incentivises and rewards innovation and long-term business investment
- Infrastructure – delivering road, rail and airport improvements to support UK business
- Energy and resources – keeping a tight lid on energy costs for industry and transforming our approach to protecting and reusing precious resources
- Staying in the EU – keeping Britain at the heart of the EU, making the economic case and supporting reform.
As part of the energy and resources priority area, EEF wants a new policy unit, an Office of Resource Management, to be established that will embark on long-term planning and scenario exercises, economic forecasts, innovation and infrastructure assessments.
It also wants a review of the Carbon Price Floor with an aim to remove the tax as soon as fiscally possible. A cost reduction strategy for the support of low carbon electricity generation should be established.
EEF also wants an energy intensive decarbonisation strategy produced drawing heavily on the 2050 low carbon roadmaps that sets out a cost-effective pathway to decarbonisation.
Writing in the introduction to the document, EEF chief executive Terry Scuoler said: “More still needs to be done if we want to be a great manufacturing and trading nation again and if we are to generate a better-balanced growth our economy requires. That is why we are setting out five key policy areas a new Government must drive forward in support of rebalancing and long-term economic security.
“Manufacturers can themselves do more to ensure UK industry remains on a strong growth trajectory – by being bold with their plans to access new markets, ambitious in their development and acquisition of new technologies and enthusiastic in encouraging more people to enter the sector.
“Government must also be a collaborative partner. First and foremost we need all parties vying for Government in 2015 to set out a clear vision for the UK economy over the next Parliament in order to provide certainty for our investors and innovators.”