Latest news: Government backs engineering sector

The UK engineering and manufacturing industry is set for a boost after the government announced funding that will help create jobs across the country. 13/08/2012

Speaking at a global business summit organised by UK Trade and Investment, deputy prime minister Nick Clegg stated that the British advanced engineering and manufacturing sectors remain hugely important to the economy.

As a result, the government has backed numerous firms to safeguard jobs and stimulate growth.

For example, Airbus will recruit 169 apprentices and graduates in September, to add to the 600 new employees it will have taken on throughout 2012, while Pirelli Group received £20million to go towards research and development (R&D) and new process machinery.

Other companies set to benefit from the funding in different ways, from improving facilities to securing new research programmes, include Bifrangi, BSG International, Cella Energy GKN and Precision Technologies.

Commenting on the news, Clegg said, 'The UK is one of the top ten manufacturers in the world. Our manufacturing sector is a national success story and lies right at the heart of our strategy for economic recovery and growth.'

Business secretary Vince Cable added, 'The key to a sustainable and balanced economy is having a long-term approach to growth, investing in manufacturing technology, R&D and skills so we have the right talent to make the most of the recovery.'