The British Plastics Federation (BPF) has called on the Government to do more to stimulate the industry in light of recent figures released from the Office of National Statistics.
Figures show that the manufacturing sector's share of the UK's GDP fell by 7% from 2002 to 2003. In 1998 manufacturing contributed to over a fifth of the GDP but by 2003 the contribution had shrunk to 14.8%.
BPF director general Peter Davis said: "Government must act fast to reduce the taxation and regulatory burden on manufacturing businesses and also to address the serious and indigestible energy price rises which amount to about 55% on average for the next period." He said a healthy manufacturing sector was "essential to the UK economy" and said the BPF wanted the Government to: take a grip on the energy situation to bring down price increases, scrap or substantially reduce the Climate Change Levy, set ministerial targets for removing excessive regulation across Government, increase capital allowances to stimulate investment, and impose no further tax increases in manufacturing.