The UK manufacturing sector needs a supply side revolution to continue to occupy a competitive position on the world stage and there is a continuing need for UK manufacturing, particularly in boosting productivity and exports.
Even with the proportion of output from manufacturing falling from 18% of GDP in 1997 to 10% currently, the sector still employs 2.7 million people and the UK is still the ninth largest manufacturing nation. UK manufacturing is crucial to future economic success and with Brexit approaching there have been calls for a renewed industrial strategy to boost the sector. However, a Government report from the former Department of Business, Innovations & Skills suggested that aggressive industrial strategies have not been helpful.
This report sets out several proposals to improve the competitiveness of the UK’s manufacturing sector. The proposals cover a wide range of areas including energy policy, financial regulations, boosting skills, airports, and free ports.Read Full Report