ADS
Renewed calls for a comprehensive industrial strategy in the UK are gaining momentum, as businesses continue to express concerns over the potential loss of billions in foreign investment due to the uncertainty created by Brexit. Make UK, a prominent manufacturing organization, is leading the charge for a coordinated approach to tackling the challenges facing the industry, including technological advancements, robotics, renewable energy, and skilled workforce training.
The urgency for a robust industrial plan has been highlighted by senior figures within Make UK, including the organization’s head, Stephen Phipson. Phipson has emphasized the need for immediate action to prevent further damage caused by the “terrible” Brexit agreement and ensure that the UK remains an attractive destination for international investors.
According to Phipson, foreign chief executives have expressed a willingness to invest billions in the UK, but their confidence is contingent on clarity regarding the government’s industrial strategy. Without a cohesive plan in place, these potential investments are at risk of being diverted to other countries with more predictable and supportive policies.
The importance of a coordinated industrial strategy is further underscored by the need to address the shortcomings of the Brexit trade and cooperation agreement. Phipson has criticized the deal negotiated by Lord Frost, describing it as detrimental to UK industry and a missed opportunity for establishing favorable trade terms with the EU. He has called on the government to rectify these errors and prioritize the interests of businesses in key sectors such as aerospace, automotive, and manufacturing.
Phipson also highlighted the lack of progress in advancing the UK’s industrial capabilities since 2010, when the Catapult Networks were established to support innovation and research in key sectors. Despite initial successes, he noted that recent government initiatives have failed to provide the necessary certainty and support for long-term investment and growth.
In particular, Phipson pointed to the UK’s underutilization of robotics and renewable energy technologies compared to other European countries. He stressed the need for a more ambitious industrial strategy that aligns with global trends in sustainability and innovation, positioning the UK as a leader in advanced manufacturing and green technologies.
The transition to renewable energy and the challenges posed by climate change present significant opportunities for UK businesses, but without a clear plan for upskilling the workforce and investing in critical infrastructure, these opportunities may be missed. Phipson highlighted the need for a skills agenda that encompasses all sectors of the economy, as well as investments in key areas such as the national grid and manufacturing capabilities.
Brexit has compounded these challenges, creating additional barriers for cross-border manufacturing and trade. Phipson criticized the lack of provisions in the Brexit agreement that would enable seamless integration of supply chains and production processes, putting UK manufacturers at a competitive disadvantage in the global market.
In order to address these issues and position the UK as a competitive and innovative economy, Phipson called for a comprehensive industrial plan that addresses the urgent needs of the manufacturing sector. By prioritizing strategic investments in technology, training, and renewable energy, the UK can not only attract foreign investment but also drive sustainable growth and prosperity for years to come.
