www.bfpa.co.uk 41 more about how it could work with industry to make it happen. This is really important because manufacturing directly accounts for just under 10% of GDP, and the impact of manufacturing accounts for more than 20%. In a landmark report in 2018, Oxford Economics put manufacturing’s impact at 23%. That’s almost a quarter of the economy. The report is called ‘The True Impact of UK Manufacturing’ and was commissioned by the Manufacturing Technologies Association, another EAMA member. Growth plan All round the world, countries are looking to strengthen their manufacturing. It is imperative that we do the same to remain competitive. We’ve heard for some time about the US, China, Germany and so on being at the forefront of manufacturing. However, less well appreciated by politicians and policy-makers is the importance of manufacturing to countries that are popularly associated with other sectors. Singapore comes to mind. We’re hearing about ‘Singapore on Thames’ with its financial centre and services, but around 20% of Singapore’s GDP comes from manufacturing and it has made a public commitment to raise that to 30%. Indeed, it has a plan as to how it’s going to achieve that – explicitly working closely with trade associations. Similarly, Switzerland – 20% of GDP and highly efficient, praised by the US. It doesn’t ‘only’ make chocolate. So, returning to the Levelling Up White Paper, EAMA has been urging the government to get back to focusing on a firm direction to support UK manufacturing. As a matter of public record, we were promised a Manufacturing Investment Prospectus (MIP) from the Business Department in March 2020. Ten months on, I am still hopeful that it will be published but I doubt if it is going to be much more than a gathering together of various incentives and initiatives that are already in place. We need more than this, so I’m really interested in Singapore’s focus on increasing its manufacturing output with a focused roadmap in place. I think we at home could learn much from this type of clear, targeted strategy. Of course, it’s a difficult time for the UK in terms of its financial position. Nevertheless, I think it’s really important for the government to get behind a sound manufacturing strategy. Rishi Sunak, when he was Chancellor of the Exchequer, spoke in the Budget and also in his MAIS Lecture in March 2022 about capital, people and ideas. In terms of capital, we obviously need to attract investment to the UK, but we also need to stimulate investment and development within companies that are committed long-term to the UK as their base for research and development, and paying taxes. We need to have a long-term vision of retained value for the UK. Inward investment is very welcome, but we need to grow on our own as well as attracting foreign companies that have a strong commitment to the UK. Reappraising skills Education, skills and training are critically important. I think the government is keenly aware that we need more in England. I was heartened to hear the Education Secretary Gillian Keagan say that what she would like most to be remembered for in her current role would be reform of technical education and making sure that everyone has access to high-quality apprenticeships. However, I think there are major issues in terms of how the government goes about developing this adequately and in liaising with schools and colleges. They know it, I think. There is an opportunity for government, trade associations and businesses all to step up, and there is a
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