Manufacturing’s big guns urge pre-Election stand on industry future
15 Nov 2023
Leaders of the UK’s five most dominant manufacturing sectors are demanding UK political parties pledge to support a common five point plan for growth.
The so-called ‘Manufacturing Five’ (M5) include the Association of the British Pharmaceutical Industry (ABPI), Chemical Industries Association (CIA) and the Food and Drink Federation (FDF). Its other two members are ADS Group representing aerospace, defence, security and space, plus the Society of Motor Manufacturers and Traders (SMMT).
The report outlines five pillars to drive sustained growth including: developing a skilled and adaptable workforce, implementing policies and regulations for innovation and growth, prioritising innovation, using the UK's global presence to promote its manufacturing industries, and delivering a sustainable future
Together, the M5 assert, they produce a combined turnover of £309 billion and employ nearly one million people in roles that are 46% more productive than the national average. Additionally, these sectors claim responsibility for £2 out of every £5 invested in research and development by UK businesses.
“Despite these strengths, the sectors have faced disruptions and changes in operating environments, resulting in significant challenges to overcome, in addition to a new era of global competition driven by targeted national industrial strategies,” declared the organisation.