The road to economic recovery can be found in UK manufacturing, says report

The road to economic recovery can be found in UK manufacturing, says report

A new report from the Institute for Prosperity sets out why rebuilding the UK’s manufacturing base will be critical to boosting the UK’s weak growth rate – which needs to get closer to 3% if the UK is able to fund the expensive projects we will face in the next decade, such as the post-Covid recovery, funding social care, and tackling climate change.

Getting manufacturing up to 15% of GDP will be key, writes businessman and economist John Mills, because it is far harder to raise productivity in services. We should look to support both traditional and new forms of manufacturing, he says, to help close the UK’s trade deficit and to help re-balance the economy to improve job opportunities in areas outside London and South East England.

You can read the report here.

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