It is fair to say that Sir James Dyson is best known for vacuum cleaners but it seems he has his own ideas on how we can better improve our economy, particularly in relation to manufacturing, an area he is familiar with. In recent years the Government has not shied away from 'experts' of their field who are in the public eye. Not too long ago Lord Sugar was trying to do his bit to advise the Government on the best steps to take to improve the economy. More recent news has referred to Mary 'Queen of Shops' Portas as a possible advisor in relation to manufacturing and bringing it back to the UK.
It would seem that Dyson agrees with where the Government is coming from in trying to reduce the negative effects of various forms of legislation on businesses. He has been noted as commenting that a combination of both looser employment laws and shorter lease periods could see manufacturing in the UK flourish once again. The looser employment law is something we've heard before, from numerous sources in fact. Shorter leases on property definitely makes sense though since it could arguably reduce the risk that employers face when taking on new premises and employees and competing for contracts with often foreign, cheaper competitors.
A combination of the two above ideas could help improve the manufacturing industry and thus employment rates. What is interesting about Dyson's insight is that he has recognised that employment law amendments alone will not improve the economy or employment figures. This is perhaps something which is not always obvious that the Government themselves fully appreciate. The employment market itself exists in other 'markets'. Adjustments to the way these markets work will likely make any relaxation of employment law bite harder than the relaxed employment law alone.
Dyson recently announced that it was expanding its 3,600-strong worldwide workforce by taking on another 300 staff members. What the Government needs to ensure is that they are aware of the sector specific changes that can be made to assist the success of their red tape cutting; so that we do start to see more businesses gaining contracts and employing more people as a result. Perhaps this isn't as innovative an idea as the bag-less vacuum cleaner but its something to think about nonetheless.