FCC

UK Government Invests ?4.5 Billion to Bolster Manufacturing

2023-11-22

To bolster the UK's manufacturing prowess, the government has allocated ?4.5 billion in funding. This investment targets key sectors, including automotive, aerospace, and green industries, and aligns with the country's long-term focus on sustainability and economic growth.

Over ?2 billion will be directed towards the automotive industry, supporting the development of zero-emission vehicles and strengthening the supply chain. Aerospace will receive ?975 million to promote energy-efficient and zero-carbon aircraft technologies. A further ?960 million will support clean energy manufacturing, while ?520 million will enhance the resilience of life sciences manufacturing.

This strategic investment aims to unlock private investment, boost energy security, create jobs, and ensure the UK remains a global leader in advanced manufacturing. It complements existing manufacturing support measures and net-zero transition plans, further propelling the economy and securing the future of British manufacturing.

Additionally, the government has extended the Connected and Automated Mobility Research and Development program with up to ?150 million in funding, aiming to position the UK at the forefront of self-driving vehicle technology. The UK's first Battery Strategy, expected to be published next week, will outline the government's plan to establish a globally competitive battery supply chain by 2030.