News 08 | Plant & Works Engineering www.pwemag.co.uk June/July 2023 Successive British Governments seem unable to stick to a long-term plan for economic growth. Instead, Businesses see a never-ending cycle of new initiatives and short-term fixes that fail to deliver sustained results. This endless chopping and changing masks a myriad of other remit reforms, the most prominent examples being the bouncing backand-forth of higher education and skills policy (including apprenticeships) between the education and business departments. The same can be said for energy policy. While trade has sometimes been the responsibility of the business ministry and at other times of its own bespoke trade department. As a new report launched in May from Make UK shows, many businesses are warning that a habitual short-term focus on quick fixes and political publicity stunts from successive governments is impeding economic development. Inconsistency in public policy breeds uncertainty in private industry. That prevents businesses from planning effectively so instead of incentivising investment, it incentivises intransigence Of course, a long-term industrial strategy is not without its challenges. It means making difficult decisions about where to allocate resources, what to prioritise and what to sacrifice. It requires the political will to take risks. Yet the alternative, as we are now seeing, is stagnant productivity, increasing inequality, and low or zero economic growth. A modern industrial strategy will require a significant, game-changing shift in the way policymakers approach business and economic policy. The first step must be to agree on our industrial and economic ambitions. Over the last few years government’s approach to international trade has been to prioritise the quantity of our new partners rather than the quality of those relationships. Attachment theory is instructive about how to form more productive partnerships. It is imperative we set clear expectations from the start about what we wish to gain in future trade deals, as well as what we’re willing to give in return. Make UK has proposed establishing a Royal Commission on Industrial Strategy to help determine a cross-party consensus on these issues. That knowledge should then inform and underpin all economic policymaking. A strategic approach also means sticking to the plan. One option might be to re-establish the independent Industrial Strategy Council to oversee and guide industrial strategy. The Cabinet Office could then be given responsibility for working across government, business, trade unions and other stakeholders to agree firm goals and targets, and put in place policies and practices to monitor progress and ensure accountability across all levels of government and industry. The lessons of attachment theory are clear. Consistency and clarity are as essential for nurturing personal development as they are for economic growth. The UK needs a stable policy environment to support businesses and workers and create the conditions for sustained growth. Through a long-term industrial strategy we can build an economy that works for everyone, now and into the future. By MAKE UK chief executive, Stephen Phipson MAKE uk - the manufacturers’ organisation monthly news comment GHG emissions by 2030 was also included. To overcome the difficulties associated with sustainability in manufacturing, five industry partners will work with Digital Catapult and HVM Catapult to scope and define two realworld sustainability challenges each. Ten startups will join the programme to prototype and pilot innovative solutions to these challenges that utilise artificial intelligence (AI) and other digital technologies. Supported by experts at Digital Catapult and HVM Catapult, the startups’ solutions will help the five manufacturing partners improve productivity, cut costs and drive down carbon emissions. Over the course of the two-year programme, it is estimated the industrial partners will generate a combined £2.75m in value from their initial £625,000 investment. Katherine Bennett CBE, HVM Catapult CEO, said: “Without doubt, sustainable manufacturing must be the number one priority for the sector, and the development and integration of new and existing industrial digital technologies is critical to this. “By bringing together industry heavyweights, technology developers and subject-matter experts to prove-out ideas and develop them rapidly, this programme can find solutions to the biggest challenges facing manufacturers right now. Through this, we can deliver a UK manufacturing sector that is resilient, flexible, productive and – vitally - environmentally sustainable.” Jeremy Silver, Digital Catapult CEO, added: “The UK’s vibrant tech startup sector is a deep well of untapped opportunity for manufacturing industries. Resource and energy efficiency gains are examples of the ways in which advanced digital technologies - and the innovative startups that use them - support growth and sustainability gains for industry through new products and services that can disrupt traditional approaches.”
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