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‘Manufacturing must continue to play a key role in UK economy’

04 November, 2013

“Through our industrial strategy we are giving businesses and investors the long-term security and confidence they need to invest in the UK and drive growth,” he adds. “Foresight’s strategic analysis is a valuable addition to the information available to government and the industry as we plan for the future.”

The Government’s chief scientific adviser, Sir Mark Walport, points out that “the global landscape is changing rapidly, with the rise of new powerful economies like China and India, and the revolution in technology. Manufacturing is no longer about just making and selling. It’s about designing, making and serving, with production sitting in the middle and each stage of the process contributing value to the economy.

“To be competitive in the new world,” he continues, “the UK needs to take full account of this and look at manufacturing in an integrated way. This includes recognising the different stages in value creation, keeping up-to-date with the changing nature of manufacturing and the associated skills needs, and providing a constant policy framework that supports long-term decision-making.”

Manufacturing currently accounts for more than 10% of the UK’s gross value (£139bn in 2012) and employs around 2.5 million people. It represents 53% of the UK’s exports and 72% of business research and development. 

Foresight report
The Foresight report says that manufacturing is vital to Britain's future




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