£100m fund to boost manufacturing

Government scheme to encourage firms to re-shore and boost domestic supply chains open for bids

A £100 million government scheme aimed at bringing manufacturing back to the UK as well as boosting domestic supply chains is open for bids.

The business department said the funding will encourage firms to “re-shore” work from overseas as well as improving workers' skills.

Business secretary Vince Cable said: “A strong manufacturing sector is vital to a balanced economic recovery, and I want to ensure that Britain's supply chains are up to the task of supporting the sector in the long term.

“Our industrial strategy, which has given business the confidence to invest, is paying dividends in the re-shoring we have seen so far. We will continue to support businesses to secure more highly skilled jobs and a stronger economy.”

Terry Scuoler, chief executive of the EEF, the manufacturers' organisation, said: “This is another welcome boost for British manufacturing, which will have a positive impact on the wider economy.

“Our own research shows that in the last three years, one in six companies have re-shored production back to the UK with many turning to a UK-based supply chain for parts and components.

“High value manufacturing creates jobs and wealth here so I'm delighted to see the government getting behind it.”