Commenting on the Spring Statement by the Chancellor of the
Exchequer, Stephen Phipson, CEO of Make UK, said:
“In the context of a challenging and, rapidly changing, economic
and political environment the Chancellor is facing a difficult
fiscal balancing act and, the unenviable situation of having to
rob Peter to pay Paul.
“Industry will welcome and support the Chancellor's focus on
maintaining economic stability and, increases in infrastructure
and defence investment but, it is clear the Chancellor will
continue to face difficult spending choices amid the likelihood
that investment in defence and security will have to rise further
given the scale of threats we face. UK manufacturers stand ready
to support the government to scale up our defence manufacturing,
a critical national priority.
“Looking ahead, all eyes will now be on Government bringing
forward a comprehensive and fully funded modern, long term
industrial strategy which has advanced manufacturing at its
heart. This must be aligned across Government with a defence
industrial strategy as well as energy, trade and skills
strategies to demonstrate to business and foreign investors that
there is joined up thinking on how to grow UK manufacturing, the
engine of the economy and the sector which will deliver our
security and net zero future.”
