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A UK industrial strategy with chemical businesses at its heart

No major economy functions without a manufacturing聽sector. Data from the World Bank shows that the聽manufacturing sector makes up an average of 13.1% of聽the G7 economies, 14.7% of European Union member聽economies, 27.4% of the Chinese economy however just聽8.8% of the UK economy.

The UK government needs to聽decide now if it wants a manufacturing sector, at the聽heart of which is the chemical industry, providing vital聽raw materials and innovative breakthroughs crucial for聽the net zero transition.聽There is clearly one answer to the question posed above,聽and to deliver it we need the Government to show the聽world that the UK is open for business and the place to聽invest.

To this end, we need stability: stability on energy聽prices, stability on industrial action, stability of regulation聽and stability of the political machine.聽The best way of doing this is to have a clear industrial聽strategy.

础肠迟颈辞苍蝉听

  • Establish a team from Government, industry,聽the trade unions, academia and other聽stakeholders to develop an industrial strategy.

  • Create an independent Office for Industrial聽Strategy, responsible for scrutiny, monitoring聽and measurement of the Industrial Strategy.

  • Ensure different Government Departments聽that impact business are joined-up in the聽development of policy.

  • Government to work more closely with聽devolved administrations and the regions聽including metro mayors so that there is one聽single UK approach to business growth.

  • Double the UK鈥檚 manufacturing contribution to聽GDP by 2040.

  • Appoint a Department for Business and Trade聽Minister who is responsible and accountable聽for delivery and reporting on the continuing聽progress of the Industrial Strategy.

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