Latest news with #industrialstrategy
Forbes
6 days ago
- Business
- Forbes
Why All Eyes Should Be On Manchester When It Comes To Regional Innovation
The UK's innovation and industrial agendas have historically been shaped by successive Westminster Governments, often leaving the insight and contribution of some of the UK's regional powerhouses behind. The recent announcement that the Industrial Strategy Council will be headquartered in Manchester, however, signals a much-needed shift away from centralised control, to one that recognises the incredible industrial heritage of the regions and the innovation being driven across the UK today. Manchester has created the blueprint for regional innovation, one grounded in long-term collaboration. It's a model that other areas across the UK would do well to study and adopt. This approach has not only elevated Manchester's profile but also attracted significant national and international attention and investment. Crucially, the city isn't standing still. The Greater Manchester Combined Authority (GMCA) recently announced The Greater Manchester Strategy, a ten-year vision underpinned by seven delivery workstreams that will cement Greater Manchester as 'a thriving city region where everyone can live a good life'. This new plan builds on Manchester's proven formula and introduces seven delivery workstreams designed to strengthen integration of public, private and academic sector ecosystems, and investment in growth areas and R&D. On the topic of which, recently we've seen a rapid growth in AI with Manchester and Salford ranked top for AI-readiness outside of London. The city is also leading the charge in digital health, data infrastructure, cybersecurity and FinTech businesses – all of which also align with the new Industrial Strategy's pillars – and it's becoming common knowledge that Manchester has earned a reputation as a world-class hub for life sciences in recent years. Indeed, Manchester's Inward Investment Agency, MIDAS, recently launched a new life sciences prospectus showcasing the city region's position as one of the UK's most dynamic health innovation ecosystems. Produced by MIDAS and the Oxford Road Corridor – Manchester's knowledge quarter – with contributions from a collection of key regional stakeholders including Bruntwood SciTech - the prospectus highlights the city's position within the UK's £120bn growing life sciences market and showcases its regional strengths in data, genomics, oncology and real-world evidence clinical trials. Rather than a city playing catch up, Manchester is a city setting the pace. But what truly sets it apart isn't just the funding it's received or the institutions it hosts, it's that the city has never waited for permission. Build first, attract later Manchester's progress and success has been the result of decades-long collaboration and a united long-term vision between civic leaders, universities, property developers and industry, forming an innovation ecosystem that existed well before national attention followed. Take Manchester Science Park with our new Greenheys development at its heart. The site is set to become home to UK Biobank, the world's most significant source of data and biological samples for health research. UK Biobank being a part of Manchester's already thriving ecosystem has been instrumental in securing the £20 million being awarded through the Industrial Strategy, supporting its delivery of the world's most significant protein study. With the data made accessible to approved researchers worldwide, the project exemplifies how locally driven success stories can attract major government backing and deliver global scientific value. The timing is also significant. The NHS's new 10-year plan announced at the beginning of July places renewed emphasis on data-driven innovation, early diagnostics and partnership with industry. In Manchester, we're already seeing how strong relationships between Manchester University NHS Foundation Trust, the Oxford Road Corridor and joint ventures like Bruntwood SciTech can deliver on this vision. The co-location of life science businesses alongside NHS clinicians and researchers offers a powerful draw for tech, innovation and science businesses looking to scale in a real-world healthcare setting. By demonstrating ambition, clarity and joined up thinking locally, Manchester has built something that national government is now backing. Local leadership, national returns Manchester may be the blueprint, but cities like Liverpool, Leeds, Birmingham and Glasgow are also carving distinct innovation paths that deserve greater attention and resourcing. Liverpool is expanding its Knowledge Quarter with a growing focus on infection research and digital health, powered by strong university partnerships and the proactive work of local leaders to create a globally recognised health and life sciences cluster. Meanwhile, Leeds has become a centre of excellence in med tech, Glasgow is establishing itself as a leader in quantum and photonics, and Birmingham is capitalising on its strengths in clean tech and advanced manufacturing, with innovation campuses like Tyseley Energy Park and Birmingham Health Innovation Campus. In each case, we see the same pattern: regional stakeholders identifying their unique assets, building coalitions across academia, industry and public services, and developing the spaces, strategies and talent pipelines to match. This groundwork doesn't wait for central government support, it earns it. If the UK wants to truly unlock the power of regional innovation, it must move beyond one-off funding packages and lean into long-term partnerships with local authorities, councils, metro mayors and institutions that have proven they can deliver. The takeaway then isn't that Manchester is better – it's that it was prepared. The city offers a case study in how others can align infrastructure, leadership and industry to create self-sustaining innovation economies. And when this is done well, it doesn't just lead to local success, it attracts national investment.
Auto Car
01-07-2025
- Automotive
- Auto Car
Why the UK's car factories have suffered for years – and how to fix them
Close The current UK government is proving one of most automotive-friendly in years, winning plaudits from the industry for its successful haggling over US tariffs, loosening of the ZEV mandate without a disruptive rewrite, and now for a new industrial strategy that puts automotive right at its heart. One of the hopes the government expressed within the strategy document is that UK vehicle manufacturing output can climb again, from a paltry 905,233 cars, vans, trucks and buses last year to 1.3 million by 2035.
Telegraph
30-06-2025
- Business
- Telegraph
British manufacturing could disappear for good under Labour
Sir Keir Starmer is gaslighting the great British public. The news that net zero taxes will be slashed for thousands of manufacturers in the long-overdue industrial strategy is of course to be wholeheartedly welcomed. Yet, the idea that this means 'Britain is back and open for business,' as the Prime Minister declared last week, really is preposterous nonsense. Perhaps, if Starmer extricated himself from the Westminster bubble even just for a few seconds, he may be able to spot something deeply troubling unfolding across the country on his watch: far from being open, Britain's industrial base is in grave danger of shutting down for good. It's not as if it's happening gradually. The pace at which UK heavy industry is collapsing under the dead hand of Labour is truly extraordinary. Barely a day goes by without another major factory waving the white flag. The latest casualty is Lindsey Oil Refinery in north-east Lincolnshire – one of the country's last remaining refineries and a vital regional employer, as my own father will attest to. The plant provided him with much-needed work in the late 1980s after he left the RAF. With its parent company forced to call in the administrators on Monday morning, a facility that churns out nearly 5.5m tonnes of oil a year – equivalent to roughly about one tenth of the country's capacity – is now in the hands of a government-appointed special receiver. At this rate, the Humber estuary and Teesside may soon be competing to become the country's biggest industrial graveyard as one-by-one, the big plants that dominate the east coast threaten to crumble into the North Sea. In Hull, the owners of Vivergo, the UK's largest bioethanol plant, are threatening to pull the plug. Further north in Redcar, the axe hangs over another big bioethanol producer, while barely a stone's throw away, the Olefins chemicals complex is scheduled for permanent closure. Among the largest of its kind, the site has been a feature of the Teesside skyline since it began operating in the late 1970s. With Labour asleep at the wheel, it is no exaggeration to say that this Government could conceivably preside over the total disappearance of this country's manufacturing capabilities. The North Sea oil and gas industry is surely past the point of no return. The future of other so-called foundational industries such as chemicals, cement, glass, paper, ceramics are all similarly bleak with catastrophic consequences for regional growth, national output, and our self-reliance. Every factory closure threatens to make us even more reliant on foreign imports. It's not as if the Government has any answers, other than the usual hurried handouts. With Jonathan Reynolds reportedly willing to offer support to Lotus to persuade the struggling Chinese-owned carmaker not to shift production to the US, subsidies are at risk of becoming the default solution for ministers bereft of proper ideas any time a fire needs putting out. But history tells us that's never a real solution. Lotus may yet stage a miraculous recovery, but this is a company that has survived for years on handouts amid a tortuous battle to make money. Most of this has come in the form of generous loans from its owners running into the hundreds of millions of pounds, but it has also been the recipient of government funding on several occasions. Taxpayers are entitled to ask why they should have to keep picking up the bill whenever a company is in trouble. In the case of Lindsey Oil Refinery, its owners are facing calls for an official inquiry after they were 'unable' to answer questions about its finances, energy minister Michael Shanks said. Lotus's latest issues, meanwhile, are largely the result of US tariffs, and the bioethanol sector says it will be unable to withstand the onslaught of 1.4bn litres of duty-free ethanol allowed under the UK-US trade deal. Ultimately, the responsibility for a crisis as serious as this has to lie with those in power. It is the consequence of a lethal cocktail of long-term neglect, complacency, short-termism and muddled decision-making. Labour's long-awaited Industrial Strategy will provide some relief – but only some. A reduction in green levies will be meaningful for many manufacturers, but for a great number it is a case of too little, too late. If Sir Keir really wanted to protect British industry and commerce, he would temper the green crusade of his fanatical Energy Secretary, which almost seems deliberately designed to put swathes of perfectly viable companies out of business just to satisfy the militant activists at Greenpeace and Just Stop Oil. The plight of Lindsey is a stark reminder of the folly of over-burdening companies with environmental costs. In corporate filings, the company talks glowingly about its embrace of eco-friendly initiatives such as LED lighting, electric cars, and renewable energy. It even felt compelled to swap face-to-face meetings for zoom calls in the name of saving the planet. One wonders whether the plant may have fared better if management had been less distracted by box-ticking green initiatives. But the Prime Minister is weak, as proven by the horribly one-sided trade agreement he returned from Washington with. Starmer's deal with Trump sold Britain's ethanol makers down the river. One thing that's for certain is that repeated handouts are unsustainable. Somebody needs to get a grip on the tsunami of issues – not just green taxes but other energy costs, along with reams of red tape, and National Insurance rises – that threaten to drown businesses. Starmer faces a choice: find a way to allow more businesses to survive without taxpayer money or allow a slew of failing companies to shut down and accept that the foundations of the economy must change. The current approach is neither one nor the other. It harks back to the days of British Leyland – but in some ways it's worse. At least then the policy of nationalising everything was deliberate. In the absence of anything remotely coherent under the bumbling duo of Starmer and Reeves, the flurry of interventionism seems almost entirely accidental.
The Independent
29-06-2025
- Business
- The Independent
Industrial firms to face £685m property tax hit after energy support pledge
Industrial firms are to be hit with nearly £700 million in new property taxes, offsetting some of the Government's move to slash their energy bills to boost competitiveness, experts have warned. Just a week after the Government's industrial strategy revealed electricity costs for about 7,000 energy-intensive businesses would be cut by scrapping green levies, estimates suggest many of the larger firms are set to see their business rates bill soar. Around 4,300 large-scale industrial properties in England – across manufacturing sectors such as automotive, aerospace and chemicals – will face a new business rates levy costing them around £685 million a year, according to tax and software firm Ryan. The levy, which comes into effect in April, is part of next year's business rates revaluation and is being used to fund tax breaks for high street retail, leisure and hospitality sectors, Ryan said. Alex Probyn, a practice leader of property tax at Ryan, said that while the industrial strategy move to reduce energy bills was welcome, 'it's perverse to then ask those very same businesses to foot the bill for high street tax cuts through higher business rates from 2026, a year before the energy support will come into effect'. He added: 'If the goal is to boost UK competitiveness, we need a coherent strategy that tackles the total burden of fixed costs — not one that gives with one hand and then takes with the other.' It follows Sir Keir Starmer's 10-year industrial strategy, which includes a measure to cut bills by up to 25% to help firms compete with foreign rivals. Under the new plans, a new British Industrial Competitiveness Scheme from 2027 will cut costs by up to £40 per megawatt hour for over 7,000 manufacturing firms by exempting them from levies on bills including the renewables obligation, feed-in tariffs and the capacity market. Around 500 of the most energy-intensive firms, including the steel industry, chemicals and glass-making, will also see their network charges cut. They currently get a 60% discount through the British Industry Supercharger scheme, which will increase to 90% from 2026. But Ryan is calling for more coherence in strategy from the Government, cautioning that any benefit from lower energy bills risks being undermined by increased property taxation. UK firms already face the highest property taxes in the developed world and more than double the European Union average, according to the firm. Mr Probyn said: 'We're seeing two opposing policies rolled out simultaneously. One aims to support industry by reducing energy costs. 'The other increases a key fixed operational cost — property tax — on the very same businesses to subsidise other sectors. 'There is no coherent strategy; it's a contradiction.' A government spokesperson said: 'We are making it easier and quicker for businesses to invest and grow by cutting British industrial electricity costs with unprecedented new support which will cut electricity costs by around 20-25% for thousands of businesses. 'Our reform to the business rates system will also create a fairer business rates system that protects the high street, supports investment and levels the playing field. 'A new, permanently lower business rates in 2026 will benefit over 280,000 retail, hospitality and leisure business properties and will be sustainably funded by a new, higher rate on the 1% of most valuable business properties.'
Arab News
28-06-2025
- Business
- Arab News
Partnering for prosperity: UK's industrial strategy and Saudi Vision 2030
The UK and Saudi Arabia stand at a pivotal moment in their bilateral relationship. As we witness the remarkable transformation underway across the Kingdom through Vision 2030, I am pleased to share how the UK's newly launched Modern Industrial Strategy creates an exceptional opportunity to further strengthen the partnership between the two nations. This week, the UK government unveiled its comprehensive, 10-year industrial strategy, establishing a clear roadmap for economic growth focused on eight high-value sectors in which Britain has international competitive advantage. This strategy represents our commitment to making the UK an even more attractive destination for international investment by creating a stable, open, and strategic business environment. What makes this moment particularly exciting is how closely our industrial strategy aligns with Saudi Arabia's Vision 2030. Both national frameworks share remarkably similar objectives: economic diversification, technological innovation, human capability development, and the creation of environments that attract quality foreign investment. This alignment creates natural synergies that can accelerate mutual prosperity. As partners in economic transformation, we recognize that prosperity requires a strategic approach. The global landscape has changed fundamentally in recent years, presenting new challenges, from supply chain disruptions to energy-security concerns. Yet within these challenges lie tremendous opportunities for collaboration on frontier industries in which both nations can excel together. The eight growth-driving sectors of the Industrial Strategy that will power Britain's economic future are: advanced manufacturing, clean energy industries, creative industries, defense, digital and technologies, financial services, life sciences, and professional and business services. In each of these sectors, we see clear alignment with Vision 2030's priorities for economic diversification. The Great Futures campaign, launched last year, has already proven to be an exceptional vehicle for delivering on this shared vision. We brought more than 450 business leaders to the Kingdom in May 2024 — the largest and most senior UK business delegation to visit any country in over a decade — and witnessed the immense appetite for partnership between our business communities. That event catalyzed partnerships worth more than £7.7 billion ($10.6 billion) and delivered more than 50 agreements across priority sectors. Together, we can build a future of shared innovation, sustainable growth, and mutual success. Neil Crompton These are not merely commercial transactions; they represent transformative collaborations that advance the strategic interests of both nations. Take clean energy, for instance. UK firm HYCAP has partnered with leading Saudi companies to invest more than £750 million in hydrogen-powered transport, securing more than 1,000 jobs across both kingdoms. Meanwhile, Carbon Clean's collaboration with Saudi Aramco on modular carbon capture technology is accelerating sustainable development. In infrastructure development, British expertise is contributing significantly to projects that are reshaping the landscape of the Kingdom under Vision 2030. These include airports, aviation, rail transportation, and construction within Saudi giga-projects, with many more in the pipeline. Financial services represent another area of exceptional synergy. London's position as a world-leading financial hub has created natural partnerships with Saudi institutions. The UK is the main location for Saudi companies and investors who want to issue green and Islamic bonds outside the Kingdom, while the London Stock Exchange has 100 percent of Saudi market share across corporate and sovereign banks. Human capability development stands at the heart of both our strategies. The recent Great Futures UK-Saudi Skills Forum brought together our governments to accelerate their partnership on technical and vocational education. Working with Saudi ministries, the UK is identifying sustainable opportunities to develop the skills vital for the economy of tomorrow. As we look ahead, the announcement of the UK-Saudi Sustainable Infrastructure Assembly marks an important next step in our partnership. This initiative will boost collaboration between the UK's financial and professional services sectors and Saudi Arabia's sustainable infrastructure developers, ensuring that British expertise can contribute effectively to Vision 2030 projects. The Industrial Strategy has been international from the start, built on lessons learned from what works in other countries, and designed for the global context. This is evident in our diplomatic engagement approach, which prioritizes mutually beneficial partnerships rather than competition. We seek to deepen economic collaboration with partners such as Saudi Arabia to increase reciprocal investment and trade, foster innovation, and bolster the resilience of supply chains critical to our frontier industries. Later this year, Great Futures will mark a year of successful partnerships with a leadership summit in London. Bringing together senior UK and Saudi ministers, alongside representatives from key industries in both nations, this celebration will showcase the tangible achievements of our campaign while setting the agenda for future collaboration. I hope many Saudi business and government leaders will join us on this important occasion. The relationship between the UK and Saudi Arabia has never been stronger, with bilateral trade exceeding £17 billion annually and more than 1,300 UK firms operating in the Kingdom. But I believe the opportunities before us are even greater. By aligning the ambitions of the UK's Modern Industrial Strategy with Saudi Arabia's Vision 2030, we can create a model for international economic collaboration that delivers prosperity for both our nations. Together, we can build a future of shared innovation, sustainable growth, and mutual success. The UK stands ready as your committed partner on this journey.
