LOCAL MP Caroline Spelman is optimistic for the West Midlands economy following a report by accountancy firm RSM Tenon that around 49% of local small and medium companies (SMEs) are doing business overseas.
At the same time, Jaguar Land Rover (JLR) is expected to spend £200m of investment cash at its Castle Bromwich plant after employees voted in favour of changes to working practices, and is planning to build the successor to its previous sports cars, called the F-type, at Castle Bromwich.
Caroline said: “Two pieces of good news like these within a few days certainly give rise to hopes for a more prosperous local economy.
“At a time when we are hearing about opportunistic strikes during the Olympic Games, JLR staff offer a shining example of how to work in the UK’s best interests.
“I’m also delighted to hear that SME export figures are looking better than expected in the local economy. Businesses in the West Midlands exported £20.2 billion of goods and services during 2011 – compared with £17.5 billion in 2010 and £13.6 billion in 2009, according to HMRC.”