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In a renewed call for action, UK businesses are once again demanding that the government create an industrial plan to attract investment and address the “terrible” implications of the Brexit agreement. Make UK, a prominent manufacturing organization, is warning that without a coordinated strategy focusing on technology, robotics, renewable energy, and training, the UK stands to lose billions in foreign investment.
Stephen Phipson, the head of Make UK, has emphasized the urgent need for a comprehensive industrial strategy to position Britain as a competitive player in innovation alongside the US Inflation Reduction Act and the EU green accord. He stressed the importance of providing certainty to international investors, stating that many companies are holding off on investing billions until they see a clear plan from the government.
Phipson, who represents major companies such as Rolls-Royce, Siemens, Airbus, Tata, Jaguar Land Rover, and others, is set to meet with Chancellor Rachel Reeves to push for immediate action on industrial strategy. He has criticized the UK’s trade and cooperation deal with the EU as “terrible” and is calling for reforms to rectify the situation.
The lack of a cohesive industrial strategy since 2010 has been a major concern for Make UK. Phipson highlighted the success of the Catapult Networks in providing technical assistance and promoting manufacturing innovation, but expressed disappointment in the government’s recent efforts. He criticized the replacement of the network with a short-term advanced manufacturing plan that lacked long-term certainty.
Despite ambitious climate goals, Phipson noted that the UK lags behind in key areas such as robot utilization and battery production. He stressed the need for a skilled workforce to support the transition to renewable energy and tackle major challenges like upgrading the national grid. Without a strong skills agenda and clear plan for infrastructure development, Phipson warned that large companies may choose not to invest in the UK.
Brexit has had a significant impact on the manufacturing sector, according to Phipson, who called it a “disaster” that requires major reforms. He highlighted the challenges posed by the Brexit deal’s lack of provisions for cross-border manufacturing and emphasized the importance of addressing these issues to attract international investment.
In conclusion, Make UK is urging the government to take immediate action on industrial strategy to secure foreign investment, promote innovation, and repair damage caused by Brexit. Without a clear plan focusing on technology, robotics, renewable energy, and training, the UK risks losing billions in potential investment and falling behind global competitors. It is critical for the government to listen to these calls and prioritize industrial reform to ensure the long-term success of the UK manufacturing sector.
