Business secretary Vince Cable has said that "off shoring went too far" in the UK, adding that British firms are increasingly 're-shoring' work back to Britain because of a "cost advantage" and "less uncertainty".
Business secretary Vince Cable has said that "off shoring went too far" in the UK, adding that British firms are increasingly 're-shoring' work back to Britain because of a "cost advantage" and "less uncertainty".
He said: "I talk to a lot of companies across the country and it is very clear that the stuff that used to be produced overseas in Asia is now being produced here. It is a mixture of things.
"[British Companies] are simply finding cost advantage in producing in Britain: There is less uncertainty; all the disruption that potentially comes from bringing things from the other side of the world; exchange rates are more favourable; and they would rather deal with a British supply chain.
"That's positive and it's something the government is encouraging through our industrial strategy."
Tonight: Is Britain Back in Business? is on ITV tonight at 7.30pm
Laura Kuenssberg reports on the return of manufacturing jobs to the UK - are we in a position to benefit from the upturn?
After years of work and jobs going to our competitors on distant shores, amid the recovery, is British manufacturing back in business?