News Release

25th January 2001

MANUFACTURING IN CRISIS

In yesterday's debate in the House of Commons on manufacturing (overshadowed
by the resignation of Peter Mandelson from the Government), Michael
Fabricant told the House of Commons that manufacturing is now in crisis.
"Since the Government has been in power, 350,000 jobs have been lost in
manufacturing and financial burdens placed on businesses through directives
and stealth taxes which have increased by over £9 ½ billion. As a result,
from being the 4th most competitive nation in the world in manufacturing, we
have slipped to 9th place since Labour came to power. Is it surprising,
therefore, that international companies are choosing to invest elsewhere?"
asks Michael Fabricant who is a Chartered Engineer and was a director of an
international broadcast electronics manufacturing company.

The text of the speech, reproduced from Hansard, can be found by clicking
here.