ALMOST 60 per cent of south west manufacturing companies want the UK stay in the Eurozone - but only if membership terms are changed.

That was the message delivered by Iain Black, a partner in the accountancy firm Monahans when he was speaking at the Swindon Business Leaders’ Forum organised by the Swindon Chamber of Commerce at the Marriott hotel.

Monahans has recently produced a manufacturing survey and among the questions were the Euro in/out factor that the UK faces in the Government’s coming promised referendum.

Mr Black said just nine per cent of the 400 participating companies in the survey wanted the UK to leave the Eurozone with the remaining around 30 per cent still to make a decision. They were still waiting to see what deal the Government gets from Europe.

Mr Black said manufacturing had grown 2.6 per cent this year compared to 2.7 per cent last year.

A total of 76 per cent of companies were predicting growth in the year ahead, with around half of companies planning to increase their staff numbers and increasing the number of apprentice they would take on.

The automotive industry was looking particularly healthy with 1.6 million cars to be built this year in the UK, and small companies were happy to report they were finding it easier to borrow money from banks – something which had been difficult in the past.

On the question of exports, 62 per cent of companies said 98 per cent of their products go to the Eurozone.

The main problems in manufacturing were the lack of skills in the workforce and the constant increase in red tape.

Another speaker at the forum, Geoff Harding, the deputy agent with the Bank of England in the south west, said the main question people wanted answering was when the economy would actually take off.

There was also still a slow down in most areas other than the service industry.

However, unemployment, which was standing at 5.2 per cent, would possibly drop even further to below the five per cent mark.

Figures for the construction industry were still poor and were actually down on last year’s figures.

But the number of mortgages were up, household debts were down and inflation was unlikely to rise to more than two per cent in the foreseeable future.

Oil prices will continue to stay low and utility bills might drop in the next few months.

The next Swindon event for the Chamber will be Christmas drinks at the Marriott on Friday, December 11 between 12.30pm and 2.30pm.

See www.thamesvalleychamber.co.uk/events or call 01753 870500.