Industry report
True Impact of Manufacturing Report
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The recent Advanced Manufacturing Plan - accompanied by support worth £4.5bn - has been welcomed as a step in the right direction and an important vehicle in helping to cultivate the new technologies and industries being born, such as electrification, lightweighting, less carbon intensive materials and renewable energy. Introducing new measures that increase exports should also be a priority and there is an unprecedented opportunity to deliver critical sovereign capabilities from public health to defending our realm. Headline sponsors Lloyds Bank welcomed the findings of the latest report. David Atkinson, UK Head of Manufacturing SME and Mid Corporates, commented: “As this report highlights, manufacturing is an integral part of the UK economy, through GDP contribution, job creation, and as a source of high wages. “When you consider the sector’s extended reach through its supply chains and beyond,
you can really start to see the scale of its contribution. “Manufacturers have demonstrated agility and resilience in the past few years of uncertainty, and we are responding by continuing to invest in partnerships in the sector that ensure it has the skills, tools and support needed to compete on a global scale.” Stephen Phipson, CEO of Make UK, concluded: “Manufacturing has always been a strategically important sector for UK economy and, none more so than now, given the immense societal, political and economic challenges that we face. “Just as the first industrial revolution provided a step change, the accelerating pace of technological change of the fourth industrial revolution gives us a generational opportunity to do the same now. This valuable report highlights to those in power now and in the future, how manufacturing is greater than the sum of its parts.” n mta.org.uk
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Machinery & Manufacturing 14
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