The CBI has responded to a European Commission communication, 'Industrial Policy Update – A contribution to growth and economic recovery'. Sean McGuire, CBI Brussels Director, said: "The Commission's decision to update its industrial policy, at a time when stimulating growth is so urgently required, is a real step forward. Europe needs an industrial vision for the future, with a strategy that makes the most of its industrial competitive advantages.
McGuire continued: "The EU must now focus its activities on those areas where the greatest results can be achieved; from aerospace and automotive to green technology and the creative industries. Central to this is creating an environment which provides greater access to finance, giving businesses the tools to invest in R&D and innovation, enter new markets overseas and secure the jobs of the future."