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Flagging factories raise fears of two-tier growth

The British Chambers of Commerce has warned that Britain is experiencing two-tier growth and has urged the chancellor to use tomorrow's budget to revive the flagging manufacturing sector. The business lobby group claims that chronic underinvestment, made worse by a lack of capital and of long-term incentives, continues to plague manufacturers. It adds that an insufficient focus on helping businesses to succeed in markets overseas is also hampering progress. In a survey based on almost 7,500 responses from companies employing about 800,000 people, the BCC found that the dominant services sector continued to improve in the second quarter. Manufacturing, however, reported much weaker growth.

 

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