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Manufacturers 'seeing improvements in cost of credit'

A survey carried out by the Engineering Employers Federation (EEF) indicates that the nation's manufacturers are starting to benefit from improvements in the cost of credit.

The balance of companies that are currently benefitting from this trend has increased, with the cost of borrowing falling to its lowest level since the pre-financial crisis days of 2007.

This comes as the government is starting to take more action to address access to finance for enterprises - the latest of which being the Funding for Lending Scheme (FLS).

Chief economist at the EEF Lee Hopley welcomed the latest developments, acknowledging that this clearly comes as a result of the FLS, which suggests that the initiative may offer more positive effects for the future.

"However, there are still more companies saying the cost of finance is going up rather than down," she commented, adding: "We simply cannot afford to have factors that are at least partly in the UK's control holding back desperately needed investment."ADNFCR-1898-ID-801436656-ADNFCR

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