Firms suggest UK lagging on re-shoring jobs
UK BUSINESSES are lagging well behind other major EU economies on intentions to re-shore jobs, according to new research, which also suggests many European firms would look to bring operations home if regulation was less onerous.
A report released by the Confederation of British Industry (CBI) this morning indicated that 60 per cent of the very large businesses polled would be more likely to re-shore if there was better EU regulation, and another 52 per cent say greater labour market flexibility would be an incentive.
But only 30 per cent of the UK business leaders polled said they had re-shored operations in the past three years. The number is below the EU average of 32 per cent, and well below France and Germany’s 40 and 50 per cent respectively.
Only 10 per cent of UK firms say they will probably or definitely re-shore in the three years ahead, well below the EU average. A whopping 80 per cent say that they definitely or probably will not. The figures will make grim reading for Prime Minister David Cameron, who made a point of promoting the re-shoring of jobs to the UK in a speech in Davos earlier this year.