A LEADING industrialist has blasted the Government over its management of the economy.

Tony Rink, joint chairman of Darwen-based Wolstenholme Rink, launched the attack on the Labour government as his firm revealed the continuing damaging effects of the strong pound that make exports from the UK dearer and imports cheaper.

"While world events influence the level of the pound there is no doubt in my mind that the Government's management of the economy is much to blame," said Mr Rink.

"Their policies are seriously damaging manufacturing industry and are playing into the hands of our international competitors."

Mr Rink's comments came as his printing products firm revealed the strength of the pound had cost it at least £500,000 in the first half of the year.

The Darwen-based firm reported profits had nudged upwards despite the damaging effects of the strong pound. Pre-tax profits rose five per cent to £3.814 million in the first six months of the year.

"The strength of sterling has had a continued damaging effect on profits," said joint chairman Tony Rink. "More than 90 per cent of what we produce at our Darwen factory goes overseas. We have maintained our volumes but at lower margins."

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