The annual AEA conference was staged at the Institute of Civil Engineers near Westminster last Tuesday (29 April) and attracted a record attendance despite a two-day tube strike that hit the capital.

Keynote speaker was the BBC’s Economics editor Robert Peston (right) who provided his take on the state of economy, both in the UK and the world at large. He was speaking on the day when GDP rose 0.8%, but whilst the rise was no more or no less than had been expected, Peston said that the star performer was the small manufacturing sector which had increased by 1.3% in the quarter and at 3.4% annually.

However, he said, the economy is still 0.6% below the level it was pre-recession in 2008. And borrowing levels were still too high. “I can’t see us returning to 1983 when extraordinarily was the last time we didn’t borrow from the rest of the world to fund our economy”.

Peston also saw the end coming for the’ China Miracle’. “Their state-funded economy looks like running into real problems,” he said, “and with the US now equally competitive on the world stage, China’s manufacturing competitiveness is likely to be eroded in the coming years.”

Retiring AEA Director General Roger Lane-Nott opened the conference with his thoughts on the future for the  land-based engineering sector, and he was followed by Nigel Greenaway (left) of JCB Finance who spoke on the likely impact of the new Annual Investment Allowance which is likely to boost investment in new plant and machinery over the next two years with 100% of capital spending up to £500,000 being able to be written down against tax in a year.

“This will give farmers, estate owners, sports clubs a real incentive to spend money on new plant, before this rate gets slashed to £25,000 in 2016,” he said.

Finally in the morning business session, director-general Ulrich Adam (below) and president Gilles Dryancour (below right) from the Brussels-based European Association of Agricultural Engineers (CEMA) provided an overview of their role and ongoing work in which their main message was that the costs of complying with increasing regulatory controls within the EU was exploding. “We would make a plea for less legislation so that we can spend more on R&D.”

Lunchtime speaker was former MP and TV personality, Giles Brandeth and included a Lifetime Achievement Award to Richard Danby, who had recently retired from RDS Technology after 40 years. “A highly enjoyable way of life rather than a job,” he said. A keen croquet player, he was presented with a vintage print of croquet together with an historic book of rules.