Make UK has submitted its wish-list for manufacturers to Chancellor Rishi Sunak ahead of this month’s Spending Review.
In the submission, the manufacturers’ group states that from the first industrial revolution to the emergence of the fourth, the manufacturing sector has remained the UK’s economic engine and the world’s workshop.
“As trade bodies and membership groups representing manufacturing businesses across the UK, we work to protect and champion this vital sector,” it continues.
“In this Autumn’s Spending Review, the manufacturing sector needs confidence, and a long-term vision to invest and grow.
“To encourage boardrooms to make the crucial decision to invest in the UK, and not overseas, business needs a long-term comprehensive plan for the future of UK industry. It is vital that Government focuses its efforts on policy levers that generate revenue through business growth, and not revenue from taxation. The combination of the unique challenges experienced the last 18 months, and the decision by Government to increase the tax burden for manufacturers means that the manufacturing sector will not simply bounce back to where it was before once the wider economy has restarted.
“We want to see Government set a bold, new, brave vision by backing manufacturing using the right policy leavers in the next decade – and this includes focusing on creating a conducive business environment that unlocks further investment, rather than increasing the tax burden on business.”
Make UK has asked the Government to:
- Underline the importance of the role UK manufacturing in levelling up the UK
- Successfully transition to a digital and green future
- Outline a vision for Global Britain and what that means for UK manufacturers
