British investment set to grow

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BRITISH manufacturers are planning to ramp up their investment despite the hostile economic environment, according to research by Barclays.

Just over half of respondents are increasing investment spend over the next 12 months, with only 20 per cent envisaging cutbacks.

Andy Hall, head of corporate banking for Barclays in central Scotland, said that the figures demonstrated “confidence in long-term profitability”.

Machinery and product development were top of the list of planned spending, but only 30 per cent said that they were looking to invest in overseas markets.

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