Ed Miliband has suggested that Britain’s political classes suffer from an “anti-manufacturing bias” which has adversely affected the economy.

Making his first speech to the CBI since becoming Labour leader, Miliband said a return to industrial interventionism was needed.

Miliband said: “Despite all the talent in engineering and work in our universities, I fear Britain still suffers from an anti-manufacturing bias.

“The way to support British businesses who want to lead in the industries of the future isn’t for government to do nothing. Government action can make a difference, and government inaction can make life harder.”

Miliband added that this bias had allowed other countries to “steal a march” on the UK in areas such as the creative industries and biotechnology, as well as more traditional sectors of manufacturing.

He said a Labour government would fund selected entrepreneurs.