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Make UK publishes manifesto for bold economic vision

Posted on 03 Jun 2024. Edited by: John Hunter. Read 502 times.
Make UK publishes manifesto for bold economic visionBritain’s manufacturers are calling on the next Government to match their ambition for growth with a bold economic vision that puts the importance of the economy across every Ministerial portfolio. Publishing its manifesto last week, Make UK believes that the centrepiece of this vision must be a bold, long-term industrial strategy announced within the first 100 days of a new administration, along with four other specific policy measures. In particular, this strategy must embrace a skills revolution throughout the education and training system to provide future talent, as well as the upskilling and retraining of the current workforce.

According to Make UK, such a vision is essential given the huge changes in the policy landscape, the need to shock the UK economy out of its anaemic holding pattern and take advantage of the opportunities provided by rapidly accelerating technologies, investment in infrastructure and the move to a ‘greener’ economy.

A policy framework for the economy beyond 2030 is also essential to counter the march of the USA and China in green technologies in particular, as well as the need to make the UK as attractive a destination as possible for investment given the rate at which other countries are gearing up.

Make UK CEO Stephen Phipson, said: “The policy landscape in which manufacturers operate has changed significantly in recent years and more changes are yet to come, from the transition to ‘net zero’ to rapidly accelerating and game-changing technological change. To keep up with these changes and, take advantage of the many opportunities ahead, not to mention the threats from other countries we need a vision from the next Government which recognises the scale of these challenges.

“This vision must include a long-term, robust, modern industrial strategy that will withstand political chop and change and goes beyond 2030. Any plan should go beyond parliamentary cycles, be cross Government, and be driven by industry, for industry.”

According to Make UK, the overall economic vision should be driven by 10 key themes which are included in the manifesto. These are: a long-term and robust industrial strategy; maximising the opportunities of a ‘net zero’ economy; grow and develop future manufacturing talent; retrain and upskill the current workforce; unlock innovation, support commercialisation and accelerate digital adoption and automation; create the right conditions for business to invest; boost manufacturing exports across the globe; invest in physical and digital infrastructure; build the Future Factory with artificial intelligence (AI); and make supply chains more resilient.