The Manufacturing Technologies Association ( MTA ) is delighted to welcome the new government and its robust commitment to revitalising the UK’s manufacturing and technology sectors. For over a century, MTA has championed the cause of a comprehensive industrial strategy, and we are thrilled to see this vision finally being recognised and implemented by the new administration.

The Labour Party’s manifesto promises a strategic partnership through a new industrial strategy that is both mission-driven and future-focused. This initiative is precisely what the industry needs to seize emerging opportunities and remove barriers to growth. Establishing an Industrial Strategy Council on a statutory footing, ensuring representation from all regions, businesses, and trade unions, marks a significant shift towards long-term economic planning and stability.

Key Initiatives Aligned with MTA ’s Vision:

• Investment in Key Sectors: The proposed allocation of £7.3 billion through the National Wealth Fund to upgrade ports, build supply chains, and support the automotive and steel industries is a monumental step. Investments in gigafactories and green hydrogen manufacturing will position the UK as a global leader in sustainable technologies.

• Public-Private Partnerships: Labour’s commitment to leveraging public investment to unlock private sector funds echoes MTA’s belief in the power of collaborative growth. With a target to attract £3 of private investment for every £1 of public investment, this initiative will create jobs and spur innovation across the country.

• Regulatory Support for Innovation: The promise of a pro-business environment with supportive regulatory frameworks will enhance innovation and investment in advanced manufacturing and other high-tech industries. This aligns perfectly with MTA’s goal of fostering a dynamic, competitive, and sustainable manufacturing sector.

MTA’s “True Impact of British Manufacturing” report underscores the sector’s vital role in the UK economy. With contributions of £224 billion to GVA, 2.6 million jobs, and 43% of the nation’s R&D investment, the manufacturing sector is not just a cornerstone of economic stability but a beacon of innovation and growth. Furthermore, nearly half of all UK exports come from manufacturing, highlighting the sector’s significance in global trade.

Make UK’s The Makers Manifesto 2024 reaffirms the industry’s readiness to embrace change and drive the nation towards a greener, more prosperous future. The UK manufacturing sector is a sponge for change, ready to absorb and implement cutting-edge technologies and sustainable practices. Our industry is crucial for achieving net zero targets and enhancing living standards through increased trade and high-quality job creation.

Commenting on the result of the General Election, Stephen Phipson, Chief Executive of Make UK, said:

“I congratulate Sir Keir Starmer on leading his party to a decisive victory. Business will welcome such a clear result and an end to the political and economic instability of the last few years which is essential for companies to now bring forward much needed investment. Looking ahead, the new Government has a lot in its in-tray to address. First and foremost is the urgent need to kick start the UK’s anaemic growth levels of recent years and, boost investment in our infrastructure, without which we cannot address the many urgent priorities the Country faces at national and regional level.”

A Call for Modern Re-industrialisation:

We stand at the brink of a new industrial revolution, one that modernises and re-industrialises the UK with advanced technologies and sustainable practices. The new government’s recognition of our sector’s potential is a call to action. It is time to leverage our historical strengths in manufacturing and technology to build a resilient and forward-looking economy.

MTA is committed to working closely with the government, industry partners, and other stakeholders to ensure the successful implementation of these strategic initiatives. Together, we can transform the UK into a powerhouse of innovation, sustainability, and economic prosperity.

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