‘Invest 2035: the UK’s modern industrial strategy’ was published on Monday and consultation on the proposals is open until 24 November, with the final industrial strategy set to be formalised in spring 2025.
The BCF represents more than 140 member companies. Its members make a £4bn contribution to the economy and export around £1bn of products a year, the federation noted.
It particularly welcomed the fact that the Green Paper recognised the importance of foundational or enabling sectors – such as coatings – to the wider manufacturing industry “without which other sectors could not function”.
BCF CEO Tom Bowtell commented: “It is also pleasing to see a joined-up approach with references to a need for a pro-business regulatory environment. This latter is fundamental to those businesses working in the chemicals sector and where we need to see, finally, workable and proportionate post-Brexit regulatory regimes put in place, especially for UK REACH.
“BCF looks forward to responding to the consultation, and talking with government, to set out how the coatings sector can help deliver on the positive plans for a strong and growing domestic UK manufacturing base. We already have a positive story to tell but with the right policies we can, collectively – government and industry working together – make British manufacturing an even greater success.”
In the Green Paper chancellor Rachel Reeves and business secretary Jonathan Reynolds state: “The new modern Industrial Strategy “Invest 2035” is the UK government’s credible 10-year plan to deliver the certainty and stability businesses need to invest in the high growth sectors that will drive our growth mission.”
Eight growth-driving sectors have been identified: advanced manufacturing, clean energy industries, creative industries, defence, digital and technologies, financial services, life sciences, and professional and business services.
In the next stage of development of the Industrial Strategy, the government said it would prioritise subsectors within these broad sectors “that meet our objectives and where there is evidence that policy can address barriers to growth”.
The vision is to establish “ambitious and targeted sector plans”, to be designed in partnership with business, devolved governments, regions, experts, and other stakeholders, tailored to each sector.
The consultation can be accessed here.
The UK last set out a formal industrial strategy in 2017. Since 2021 the previous Conservative government had instead pursued various plans for growth.
