Former M&S boss wants to see investment in British factories in order to create new jobs and boost the economy
Top fashion executives, including Marks and Spencer former boss Sir Stuart Rose, have met with business secretary Vince Cable to try to secure Government support for Britain’s clothing manufacturing industry.
However their ideas fell on deaf ears, as Cable was quoted in the press as saying ‘They have formed the view that there is scope for bringing back an industry that disappeared in the bonfire of the Eighties. This is already happening but (they) have a more ambitious agenda, looking at the whole chain, finishing and dyeing – all those things we once did on a large scale in places like Lancashire.We are not going to subsidise this. It is down to the industry. But there are things the Government can do in terms of training, apprenticeships and co-investing through regional growth funds. We have ways of helping.’
Cable will also meet with Arcadia boss Sir Philip Green to discuss the issue, who spoke out this month about increasing production in the UK by 20 percent.
What are your thoughts on this? Should the government invest in British manufacturing? Please leave a comment below.