The UK Steel Association is getting an early start on the election bandwagon. The trade body – which has changed its name from the British Iron and Steel Producers’ Association – has sent a briefing pack to around 80 parliamentary candidates.
Each pack outlines the policies and legislative framework it wants the next Government to follow. `Economic stability is the single most important factor for our continued success,’ said association chairman Brian Clayton, announcing the policy package.
With 70% of turnover linked to the German mark, members were suffering in the surge in sterling. Clayton called for low inflation, low interest rates and competitive exchange rates to remain policy goals.
The value of sterling against other EU currencies must not reach parities that threaten to undermine British competitiveness, UK Steel argues. It wants a 10-year Government-backed investment plan in infrastructure to boost construction – the steel industry’s largest market.