JCB to create 2,500 jobs as Osborne praises 'strong' manufacturing investment
Friday 06 December 2013
Vehicle manufacturing giant JCB is set to create 2500 new jobs by 2018 as part of a £150 million expansion plan.
The company is set to build a factory in Uttoxeter, replacing a site at Rugeley, and an excavator manufacturing plant in Cheadle.
Visiting JCB’s Staffordshire factory, George Osborne said: “I am the first to say that although the economic plan is working, the job isn’t done and we have to work through that plan.
The risk is abandoning the plan that has got us this far, but we have got to make sure we have a responsible recovery, a more balanced recovery.”
Its chairman and major Tory party donor Lord Bamford said: “The Chancellor’s decision to invest in the regional infrastructure means JCB can continue to invest locally, which is good for Staffordshire and good for Britain, especially given the wider benefits to our UK supply chain.”
Osborne said that JCB’s investment was a “sign that there are very strong things" happening in the British manufacturing sector, but also warned that the recovery needs to be "more balanced".
His comments come after the Office for Budget Responsibility signalled that improvements to the fiscal outlook were “cyclical rather than structural”.
It added that higher-than-expected growth this year has been driven by consumer spending and rising house prices, rather than business investment and trade.
JCB also plans to introduce a graduate scheme and a new apprenticeship programme to be run in partnership with UK universities.
Liam Neeson's Downton dreams
Thriller is set in the secret world of British espionage
Bomber jacket worn by Mary Berry sells out within an hour
- 1 Scottish independence: Learn from Quebec's mistakes and beware of promises. Vote Yes.
- 2 iOS 8 is full of shiny new features - but it's terrible news for app developers
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 4 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
- 5 Cocaine and cannabis haul hidden in Vatican car seized by French police
Scottish independence referendum live - The reunited kingdom: Scotland gives a clear 'No' to independence in historic referendum
Archbishop of Canterbury admits doubts about existence of God
Scottish independence: YouGov final prediction puts No campaign 8 points ahead - but Yes team remains optimistic
Scottish independence: Tory revolt against 'devo max' grows as Rail Minister Claire Perry joins
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
Portuguese academic says British are 'filthy, violent and drunk'
iJobs Money & Business
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...
To £85,000 + banking benefits: Saxton Leigh: You will be expected to carry out...
Up to £90,000 + benefits: Saxton Leigh: Credit Risk Audit Manager required to ...