Massey Ferguson quitting UK

MASSEY FERGUSON is pulling out of Britain with the loss of 1,000 jobs at Coventry, the biggest tractor factory in the world. US owner Agco blamed Britain's failure to join the euro and the crippling cost of the strong pound.

Agco chief Bob Ratliff said: 'Over 85% of production was exported, which placed the sterling-based product under severe competitive pressure.'

Meanwhile, house builders are facing a skills shortage because bricklaying and plastering are seen as 'unfashionable'. Schools' emphasis on more academic subjects is curbing the appeal to youngsters of traditional building site jobs, Peter Cobb of Fairview New Homes told a committee of MPs today.