Britain’s direct-manufacturing cost structure has improved up to 10% compared to other Western European manufacturing export economies, according to the BCG Global Manufacturing Cost-Competitiveness Index.
Wage increases since 2004, the lowest corporate tax levels in Europe and strong advanced manufacturing ecosystems are cited as reason for the improvement. In addition, the UK has developed its competitive stance compared Eastern European and Asian countries like Poland, Czech Republic and China. Consequently, manufacturers are reshoring production, with a MAS survey reporting that…
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