Make UK comments on Chancellor's speech

2 mins read

Rachel Reeves has been appointed as the first female Chancellor of the Exchequer in the UK and in her first speech said the new Treasury will focus on a new era of industrial strategy with a focus on seizing opportunities towards the UK energy transition.

In response to this historic speech, Stephen Phipson, Chief Executive of Make UK, commented on the statements on industrial funding made by the new Chancellor: “Industry will welcome such a bold statement of intent which is a clear indication of a Government that has well and truly hit the ground running, especially in ensuring that key institutions are focused on promoting economic growth with their shoulders to the wheel. 


Photo of Stephen Phipson, Chief Executive of Make UK

“The current anaemic rate is simply not sustainable if we want the investment in our public services and vital investment in critical infrastructure and, the advantage the UK now clearly has as a stable place to do business and, attract investment, is one we must not waste . An Industrial Strategy will be central to boosting growth, especially working in partnership with Government at national and regional level and, tackling the skills crisis must be at the heart of boosting growth in the first instance, with a fundamental and widespread review of the Apprentice Levy and Technical Education system as a starting point. Additionally, the ambitious target for new homes can be the catalyst to unlock the potential of fully modular homes built in British factories.

“Turning the growth taps on will not be easy in the current uncertain international climate and a difficult inheritance. But, industry will commend this announcement that makes quite clear that it is the laser like focus of the new Government.” 

On Housing, Daniel Paterson, Director of Policy Make UK Modular said: “Make UK Modular looks forward to working with the new government on their ambitious building agenda. The Labour Party laid out a bold plan during the run-up to and throughout the election campaign and we welcome the Chancellor's statement today in regard to growth; making homes and infrastructure building central to this. Modular and MMC leaders can and will play their part in realising the growth opportunities available and helping to reach the target of 1.5 million new homes by the end of this parliament.

“The Chancellor's commitment to reinstating housing targets, new funding for 300 new planning officers and overhauling the UK's antiquated planning system - issues that Make UK Modular have long called for action on - is both welcome and overdue.

“The planned consultation on the National Planning Policy Framework and the drive to adopt universal coverage for local plans is also helpful in the joint goal of getting Britain building again, creating the homes so desperately needed around the whole of the country.”