Amidst a push for increased investment in British industry, the Made in Group orchestrated a compelling event at Westminster in 2022, amplifying calls for further support. Led by a chairman whose voice resonates in the House of Lords, the Group serves as a powerful advocate for its members, ensuring their ideas reverberate within the corridors of power. Jason Pitt, the CEO, applauds the government's recent commitment of £4.5 billion in funding as a positive step and eagerly anticipates its effective implementation, emphasising the importance of efficiency in the process.
In 2022, the Made in Group held discussions with the government ministry overseeing industry, alongside several influential figures in the government, to advocate for British industry. Jason Pitt, expressing the group's ambition, articulated, 'We ambitiously requested £100 billion in investment for the sector, aiming to stimulate a shift in perspective, moving beyond mere token grants towards impactful funding. In addition to engaging with MPs, we ensured the distribution of our letters to every MP and Lord through their respective pigeonholes during our Westminster visit.'
Jason further elaborated, 'This year, our focus revolves around advocating for a renewed approach to ministerial attention. I encourage our members to watch for an incoming email in their inboxes, where I will provide a copy of the 2023 letter along with the option to add your endorsement."
Government pledges £4.5 billion for manufacturing
This substantial investment, earmarked for eight pivotal sectors, notably includes £960 million dedicated to bolstering clean energy initiatives. Such a strategic allocation of funds aims to not only spur growth but also fortify energy security across the nation. The government's responsiveness to industry recommendations signals a concerted effort to foster innovation and progress. Of particular note is the emphasis on advancing digital technologies, a move expected to benefit small and medium-sized enterprises (SMEs) and drive widespread innovation.
This initiative stands as a rallying call for collective support to fortify the future of British manufacturing. It champions sectors crucial to economic growth and national development, notably allocating over £2 billion for automotive industries and £975 million for aerospace. These allocations are set to support not just manufacturing but also the development of zero-emission vehicles, aligning with the global shift towards sustainability.
Moreover, the commitment of £960 million to the Green Industries Growth Accelerator underscores the government's dedication to fostering clean energy manufacturing. This investment aims to expand clean energy supply chains, including areas such as carbon capture, hydrogen, and offshore wind, aligning with the nation's ambitions for a net-zero future.
The government's acknowledgment of the importance of regulation and standards in driving innovation further underlines its commitment to progress. Accepting all 14 recommendations put forth by industry experts, the government looks to accelerate the deployment of cutting-edge technologies like digital twins. This tech, already making waves in sectors such as automotive, promises transformative outcomes in product development and efficiency.
As part of wider plans to boost growth in SMEs, the Made Smarter Adoption program's expansion promises to democratise access to advanced digital technologies across all English regions. This program aims to reduce carbon emissions, enhance productivity, and foster skill development, thereby empowering smaller businesses to thrive.
In essence, this comprehensive plan represents a united front in bolstering British manufacturing. It not only seeks to fortify existing industries but also pave the way for innovative, sustainable, and competitive sectors that will drive the nation towards a prosperous future. As these initiatives unfold, they invite collaboration and participation, marking a pivotal moment for all stakeholders invested in the growth and success of British industry.
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