Commenting on today's budget, James Partington, Director of
Policy and Impact at the Institution of Mechanical Engineers
said:
We welcome measures in the Budget to support business investment
and industrial competitiveness, including improved access to
finance and investment in key sectors such as aerospace and
defence, alongside measures to reduce the cost of energy for the
engineering sector.
These are important steps towards strengthening the UK's
industrial base and supporting growth.
The British Industrial Competitiveness Scheme, announced earlier
this year, will provide welcome support for more than 10,000
energy-intensive businesses from 2027. But with growing energy
costs piling ever more pressure on industry, we need this to go
further and for support to be extended to a wider range of
companies, or we risk losing investment and high value jobs to
countries offering more competitive conditions.
Increased investment in AI across the UK will be welcomed by
industry will help create the conditions for growth in
communities across the country.
Engineering is central to growth across the UK, with 6.4 million
people in highly skilled roles driving productivity and
innovation. The Government must now match this contribution with
the ambition and investment needed to unlock engineering's full
potential.
