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With the renewed demands for a UK industrial plan to attract investment and repair Brexit damage, the urgency is growing for the government to take action. Make UK, a leading manufacturing organization, has warned that without a coordinated strategy focusing on technology, robotics, renewables, and training, the country could lose out on billions of pounds in foreign investment.
The call for an industrial plan comes amidst concerns about the impact of the Brexit agreement on businesses in the UK. Make UK is calling on the government to quickly put a plan into place to attract investment and help the country recover from what they describe as a “terrible” Brexit deal.
Stephen Phipson, head of Make UK, has been meeting with government officials to emphasize the importance of having a clear industrial strategy in place. He has stressed the need for a coordinated approach that focuses on key areas such as technology, robotization, renewable energy, and training. According to Phipson, it is crucial for Britain to be able to compete on innovation with other major players like the US and the EU, but financial incentives alone will not be enough to attract investment.
Phipson has highlighted the significance of foreign investment in the UK, pointing out that many international companies are eager to invest billions in the country but are hesitant to do so without a clear plan in place. He has urged the government to act quickly, stressing the urgency of the situation.
In addition to the need for a comprehensive industrial strategy, Phipson has also raised concerns about the trade and cooperation deal with the EU. He has criticized the deal negotiated by Lord Frost, describing it as “terrible” and a “disaster” for the country. Phipson has blamed the previous Tory government for what he sees as “fundamental errors” in the trade agreement.
Phipson has also highlighted the lack of a ambitious industrial strategy in the UK since 2010, when the Catapult Networks were first established. He has criticized the government for not providing the necessary support for innovation and manufacturing, particularly in key sectors such as aerospace and advanced materials.
Despite the government’s stated commitments to renewable energy and climate objectives, Phipson has pointed out that the UK lags behind other European countries in terms of robot utilization and battery manufacturing. He has called for a more concerted effort to transition to cleaner technologies, noting that the government’s current approach is inadequate.
In light of the challenges facing the manufacturing sector in the UK, Phipson has called for a major overhaul of the country’s industrial strategy. He has emphasized the need for a comprehensive plan that addresses key issues such as skills training, infrastructure investment, and support for key industries.
Overall, the renewed demands for a UK industrial plan reflect the growing concerns about the impact of Brexit on the country’s economy and the need for a coordinated strategy to attract investment and promote growth. It is clear that urgent action is needed to address these challenges and ensure that the UK remains competitive in the global marketplace.
