Business and industry react to the General Election result

However, there have been calls for more support for industry from the government and concerns raised over the referendum on the UK’s EU membership that the Tories have promised.

“A majority Conservative government is good news for UK manufacturing,” said Nick Brainsby, partner and director of investment company Pemberton Capital.

“People voted to keep their jobs and to keep the manufacturing revival going. 

“Although there is a long way to go in order to complete this recovery, the current competitiveness of UK manufacturing owes a lot to the UK’s flexible and dynamic labour market and relatively low corporate tax rates. We can now be confident that this environment will continue.”

He added that one risk to the manufacturing revival was low productivity, and that the government should continue to invest in UK infrastructure and improve access to finance for spending on new plant and machinery by SMEs.

Institution of Civil Engineers director general Nick Baveystock said that the uncertainty that preceded a general election had lifted and the government should move swiftly to reassure industry on the post-election outlook.