Today [27 November 2023], prime minister Rishi Sunak also announced £29.5bn of new investment for ‘thriving’ UK sectors, as part of the Global Investment Summit at Hampton Court Palace. The UK government has likewise published the ‘Advanced Manufacturing Plan’, in which it outlines its ambition to position the UK as a leader in the development and use of sustainable and digital manufacturing technologies.
The plan will ensure the UK continues to lead in the development and deployment of clean and digital manufacturing technologies.
Some the key industries to benefit from this funding include life sciences, innovation, technology and digital infrastructure.
This follows last week’s announcement of £4.5bn in funding to boost the UK’s manufacturing segment, including additional funding for artificial intelligence (AI) and a permanent full-expensing R&D tax relief scheme.
The document is also intended to provide companies with a commitment to longer-term stability and success for UK-based manufacturing by delineating a course of targeted action to ensure a competitive business environment.
On the publication of the report, Kemi Badenoch, secretary of state for business and trade, said: “The United Kingdom has a proud history of manufacturing. The Steam Engine, invented here, revolutionised the global economy of the 19th Century. Research at the University of Oxford in the 1970s made the lithium-ion battery possible and will revolutionise our car sector in this century. We invented the world’s first COVID-19 vaccine. We are also now the 8th largest manufacturing economy in the world.
“…My plan for advanced manufacturing looks forward and builds on these successes.
There are, however, risks for UK manufacturing as the world transitions to cleaner technology.
Other countries have embarked on large tax and spending sprees to claim a share of the global
“No business secretary can pick winners, but Government can help companies succeed by
removing obstacles in their way and focus on improving the business environment to ensure the
sector is competitive. Government can open markets overseas, with our independent trade policy
and it can get out of the way of business at home, with our new regulatory freedoms.
“The Advanced Manufacturing Plan invests in the future of manufacturing, opens markets, and
removes obstacles for business. It is supported by £4.5bn of funding to unlock
investment in strategic manufacturing sectors, this includes £3bn for automotive,
including batteries, and aerospace to 2030 – which are developing cutting edge technology
and driving our transition to net zero.”
The three key priorities outlined in the documents include: investing in the future of this sector and forging partnerships that enable research developments; international cooperation and increasing the resilience of domestic supply chains and the country’s economic security; and decreasing costs and barriers to international investment to establish an attractive research ecosystem for international investors.
What’s more, the government will also extend its Made Smarter programme to support SMEs across the
manufacturing sector with access to digital technologies.
The latest developments in robotics and automated technologies for materials handling will be on show at the Robotics and Automation Exhibition on 19-20 March 2024 at the NEC Birmingham. Register now to attend the UK’s biggest exhibition dedicated to robotics and automation, which is co-located with Britain’s biggest warehousing show, IntraLogisteX!