| Manufacturing
in the UK
The
success of United Kingdom manufacturing is crucial to our country's
prosperity, now and in the future:
- Manufacturing
is a sixth of the economy
- It's
vital for our trading position - being responsible for around
two-thirds of all UK exports
- It
generates around 3.5 million jobs directly - and millions more
through the supply chain and related services.
- It's
responsible for around 75% of business research & development
- It's
a key generator of productivity in the wider economy, through
introducing new products and processes.
Every
industry sector in the UK has world-class companies that prove
that success in manufacturing comes from constantly innovating
and investing in new products, new designs, new materials and
new production techniques. But we need more UK companies to move
to this level.
The
challenge to manufacturers
Globalisation
and trade liberalisation mean companies face increasing competition
from goods and services produced in lower wage economies. The
UK cannot compete on low wages, nor should we want to. The future
of UK manufacturing depends on raising investment, and applying
science and innovation, best practice and skills to create even
better products.
That
is why we are working in partnership with industry, trade unions,
regional development agencies, and other stakeholders to deliver
the Governments'
Manufacturing Strategy. The Strategy, launched in
May 2002, sets out the actions that we all need to take to create
a high value, high skill manufacturing sector capable of introducing
new products and processes into our economy, creating new markets,
and delivering a huge boost to our prosperity.
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Last updated 12 July 2004 |
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