Amid all the gloom, manufacturing has been providing some positive news, albeit from a low base.

We’ve had eight consecutive quarters of GDP growth in manufacturing. Indeed, business investment has increased for the last two quarters and in sectors such as automotive, the recovery continues. Culturally too, we seem to have changed our attitudes.

But the business forecast is cloudy, with the risk of heavy storms.

Much of the debate is about who is to blame for this slowdown.

This government; the last government; the Eurozone; inflation; debt; demand; cuts; all are plausible candidates. But, it matters much less who is to blame, more what can be done about it. We should all share the Chancellor’s strong desire for a “March of the Makers”.

And indeed the Autumn Statement cheered manufacturers – credit easing; changes in the accounting of R&D tax credits; increased infrastructure spend; an extra billion for regional growth funds; and Business Angel tax relief for small businesses.

This stimulus package, for that is what it is, is a step in the right direction.

But such a step can only be the start of a longer, more sustained change in our business culture. We need a better, broader capitalism.

This requires a sustained effort.