A STEADY hand at the helm is needed to help North West businesses navigate the tricky waters ahead, a survey advises.

The latest North West Chambers of Commerce economic survey, which includes responses from East Lancashire firms, highlights a slowdown in growth among firms in the region.

Manufacturers are reporting reduced sales over the last quarter and are predicting a fall in home and export markets.

But employment prospects appear to be holding up and the larger manufacturers still remain reasonably confident about cash flow and profitability.

"On the whole the results of the survey, while indicating some concerns regarding manufacturing performance, are not grounds for serious worry at present,' said Miles Middleton, director of the North West Chambers of Commerce Association.

"However they do call for a steady hand at the helm. There is no room for increasing interest rates and I endorse the view that there is no scope at present for tax cuts."

DEPUTY Prime Minister Michael Heseltine will give a celebrity lecture at a meeting of chamber members in Lancashire.

Mr Heseltine will speak to members of the North West Chambers of Commerce about 'The Competitiveness Agenda' at the meeting at Park Hall Hotel, Charnock Richard on September 27.

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