Defence and security sector Trade Association ADS Group has stated that the UK’s future economic success will depend on the new Government working with industry to achieve a major boost in productivity.
Launching ADS’ five-point ‘General Election Manifesto’, CEO Paul Everitt said the spotlight would be on the new Government’s commitment to putting in place the foundations for substantial gains in productivity by attracting investment, supporting innovation and delivering a Brexit deal designed to sustain UK competitiveness.
“The UK needs a step change in productivity to fully achieve our potential and put vital sectors of our economy on the right footing to compete around the world,” stressed Everitt. “The Government elected on Thursday 8 June will face economic challenges that it must work in partnership with industry to address if we’re to achieve sustainable and long-term economic growth. Any failure to prioritise productivity gains would put at risk the UK’s future ability to generate high value jobs and maximise the economic potential of our ingenuity.”
Everitt continued: “We need to see the development of an ambitious industrial strategy with full political and financial backing, support for SME investment in technologies and the latest advanced manufacturing processes, and prioritisation of innovation to make sure the UK benefits from the jobs, exports and growth that flow from new ideas.”
The five election priorities set out by ADS are as follows:
(1) Develop an ambitious Industrial Strategy that attracts global investment
The Government must build on successful sector strategies with long-term political and financial backing for an ambitious industrial strategy
(2) Prioritise productivity by investing in supply chains
Given the UK’s long-term productivity challenge, the UK must support SMEs in their ability to invest in new technologies, develop world-class skills and adopt the latest manufacturing processes
(3) Invest in industrial innovation
Prioritising and focusing funding on industrial innovation, as well as scientific research, would ensure that the UK benefits from the jobs, exports and growth that flow from our innovative ideas
(4) Enhance national security by investing in UK capability
The next Government should ensure its value for money analysis recognises and reflects the benefits of equipping a UK supply chain with the capabilities, technologies and engineering services necessary for our long-term national security
(5) Deliver a Brexit deal that sustains our global competitiveness
Our sectors’ ability to compete globally depends on a stable transition to a new deal with the EU that delivers what might best be termed ‘frictionless’ trade and access to regulators, R&D programmes and skills