‘Dangerously lopsided’

George Osborne needs to turn his rhetoric into action or risk becoming the ‘soundbite’ chancellor, Unite has warned.

The union has urged the chancellor to commit to an active industrial strategy in his budget in March following today’s (February 10) manufacturing figures.

The figures show industrial output suffered its sharpest monthly drop since December 2012 with manufacturing output falling by 1.7 per cent in December on a year earlier.

“These figures show manufacturing has shrunk on the Tories watch while the economy becomes dangerously lopsided,” said Unite assistant general secretary Tony Burke.

“George Osborne is in danger of becoming the soundbite chancellor who presided over the demise of British manufacturing,” he added.

With output in manufacturing falling for a third month in a row for the first time since 2009, Unite warned the chancellor was presiding over an economy which was becoming dangerously lopsided and reliant on consumer spending for growth.

“The question George Osborne and his fellow ministers need to ask themselves, is do they want Britain to continue making things?” said Tony.

“He needs to use his budget in March to commit to an active industrial strategy that supports British manufacturing and the high skilled, high wage jobs we need to rebalance the economy,” he added.

Unite warned that a continued reliance on consumer spending and the creation of low paid insecure work will not generate sustainable growth or put the UK on the much promised path to prosperity.

“It’s time for George Osborne to start matching his rhetoric with action by acting decisively and swiftly to support foundation industries like steel guaranteeing that if it’s built for Britain it will be made by Britain,” said Tony.

“A failure to do so will lead to an ever shrinking manufacturing sector and an increasing reliance on low paid, low skilled work,” he added.