EEF urges parties to have a different vision

MANUFACTURERS are challenging the leaders of the three main political parties to demonstrate a vision for creating a new type of economy in tonight's third and final TV debate.
By The Newsroom
Published 29th Apr 2010, 12:58 BST
Updated 29th Apr 2010, 12:58 BST

The EEF said the prevailing political and economic debate is "stale" despite the country being at a crossroads and having an opportunity to reshape the economy of the future.

Alan Hall, the EEF regional director, said: "Rather than spending 90 minutes exaggerating fairly minor differences in policy on issues such as their approach to reducing the public sector deficit, business wants to see some new think-ing.

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"With a week left before the General Election, the political parties need to refocus on how they will do this or risk repeating the follies of the past 30 years."

The EEF, which represents manufacturers, wants to see a more competitive and predictable tax system, a cut in the headline rate of corporation tax, a rise in VAT to 20 per cent and a return to the top rate tax of 40 per cent.

It also wants to see new strategies to take advantage of growing markets such as low-carbon vehicles, aerospace and defence, healthcare technologies and construction and building products and the tackling of skills shortages.

Related topics:VAT