14.10.24

It has been just over three months since Rachel Reeves, in her first speech as Chancellor, announced the Government’s commitment to introduce a modern industrial strategy, marking the first glimpses of light at the end of a very long tunnel that Make UK and manufacturers have steadily moved through over the previous decade or so.

For 87% of manufacturers, an industrial strategy is something that’d give their business a long-term vision, while it would also help correct our dwindling skills capacity, deliver growth to our stagnating economy, and help us deal with the climate and technological challenges of the future.

We’ve led the calls for successive governments to commit to an industrial strategy, campaigning tirelessly on the issue both publicly and in the meeting rooms of Whitehall. Now, finally, it appears that the end of this particular tunnel may be in sight.  

This report sets out Make UK and manufacturing’s vision for the foundations of a successful industrial strategy, one which puts skills and infrastructure at its heart, brings investment and jobs to the UK, enhances productivity and living standards, helps us meet our net zero targets, and delivers much-needed growth for the sector and, as a result, the rest of the economy.  

And while we should take some lessons from other countries’ approaches, this report outlines how we must also be ready to forge our own path, building on our own strengths and addressing our own weaknesses through a comprehensive, long-term strategy that prioritises a vision, sets goals, and tackles the complex challenges that we face.