Industrial strategy green paper shows signs of promise for UK manufacturing

Industrial strategy green paper shows signs of promise

Head of industrial manufacturing at KPMG UK, comments on the industrial strategy green paper launched yesterday.

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Commenting on the industrial strategy green paper launched yesterday, Stephen Cooper, head of industrial manufacturing at KPMG UK, said: “UK manufacturers will view Mrs May’s proposals as a long awaited and much needed step towards a consistent approach to help Britain’s economy adjust and succeed post-Brexit. It is encouraging to see the government welcoming industry views and expertise to drive this strategy forward.

“We work with organisations in the automotive and aerospace sectors, such as the Society of Motor Manufacturers & Traders (SMMT) and ADS, who recognise the importance of collaborating with government, and this approach has seen success. As the boundaries between traditional sectors start to blur due to advances in technology, it's essential for industry to embrace this open relationship with government.
“Investment in infrastructure, additional access to finance and increased support from government to address access to talent through STEM funding are all positives. However, how the skills challenge will be managed in the short-term remains to be seen. These are all key areas that need to focused on if Britain is to remain competitive and as a good location for foreign direct investment.

“Every manufacturer is thinking about digitalisation and advancing technologies, and the proposed R&D funding and support in science, research and innovation is critical for industry to operate effectively in the future. This announcement certainly takes us a step forward.”

-ENDS-

 

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About KPMG
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
 

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