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| Cameron to tell Davos: British companies are 're-shoring' jobs | |
| (about 7 hours later) | |
| British companies which transferred jobs abroad are coming home, David Cameron will declare today as he launches a campaign to persuade other firms to follow suit. | British companies which transferred jobs abroad are coming home, David Cameron will declare today as he launches a campaign to persuade other firms to follow suit. |
| About 1,500 manufacturing jobs which moved offshore to cut production costs have been brought back to the UK since 2011. Textiles, software production, call centres and company headquarters have also returned. | About 1,500 manufacturing jobs which moved offshore to cut production costs have been brought back to the UK since 2011. Textiles, software production, call centres and company headquarters have also returned. |
| In a speech to the World Economic Forum in Davos, the Prime Minister will say the Government will build on the “small but discernible trend where some jobs that were once off-shored are coming back from East to West.” | In a speech to the World Economic Forum in Davos, the Prime Minister will say the Government will build on the “small but discernible trend where some jobs that were once off-shored are coming back from East to West.” |
| He will announce a plan to make Britain “the re-shore nation.” | He will announce a plan to make Britain “the re-shore nation.” |
| Mr Cameron will admit that some production will still move offshore, but will argue that there is now an opportunity to reverse the trend. | Mr Cameron will admit that some production will still move offshore, but will argue that there is now an opportunity to reverse the trend. |
| “Part of the story is about rising costs in the emerging markets, a natural consequence of these economies developing and their people becoming wealthier,” he will say. | “Part of the story is about rising costs in the emerging markets, a natural consequence of these economies developing and their people becoming wealthier,” he will say. |
| "At the same time, there are a number of factors pulling companies back home. Some companies are choosing to locate production nearer to their consumer markets in the West. By shortening their supply chains, they can develop new products and react more quickly to changing consumer demand.” | "At the same time, there are a number of factors pulling companies back home. Some companies are choosing to locate production nearer to their consumer markets in the West. By shortening their supply chains, they can develop new products and react more quickly to changing consumer demand.” |
| The returning firms include the model train manufacturer Hornby, which is bringing some manufacturing from India to Britain; food manufacturer Symingtons (China to Leeds); Raspberry Pi computers (switching production to Wales); Jaeger (10 per cent of its production to Britain) and Vent Axia (China to Crawley). | The returning firms include the model train manufacturer Hornby, which is bringing some manufacturing from India to Britain; food manufacturer Symingtons (China to Leeds); Raspberry Pi computers (switching production to Wales); Jaeger (10 per cent of its production to Britain) and Vent Axia (China to Crawley). |
| A survey by the Manufacturing Advisory Service (MAS) shows that companies cite costs, quality and reducing lead times as the top three reasons for moving production back to the UK. The new Government campaign will also trumpet a strong and stable economy, competitive corporate tax rates, a good regulatory environment, strong legal frameworks and a dynamic labour market. | A survey by the Manufacturing Advisory Service (MAS) shows that companies cite costs, quality and reducing lead times as the top three reasons for moving production back to the UK. The new Government campaign will also trumpet a strong and stable economy, competitive corporate tax rates, a good regulatory environment, strong legal frameworks and a dynamic labour market. |
| Vince Cable, the Business Secretary, said: “This is a sign that diverse, high-quality British manufacturing is on the rise once again. It also highlights the ability of British-based business to stand strong in the face of global competition.” | Vince Cable, the Business Secretary, said: “This is a sign that diverse, high-quality British manufacturing is on the rise once again. It also highlights the ability of British-based business to stand strong in the face of global competition.” |