Corbyn promises £250bn to spur ‘manufacturing renaissance’

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Corbyn promises £250bn to spur ‘manufacturing renaissance’

He said his party would launch a £250bn spending package on infrastructure if it wins the next general election that would “benefit every region of our country, not just London and the South East”.

He criticised the UK Government for recent figures which show the UK’s manufacturing sector is performing worse than at any time since 2008.

“The manufacturing industry is the beating heart of our economy,” he said, while speaking at the EEF’s annual manufacturing conference. “For those employed in the sector, manufacturing doesn’t just offer good jobs that pay well, it offers creative and satisfying work. But manufacturing needs the right environment to flourish: high quality infrastructure, a skilled workforce and open and stable trading relations.

“No doubt, the uncertainly generated by the government’s shambolic handling of Brexit has had an impact, as has weaker global demand.”

Corbyn criticised nine years of “unnecessary austerity” that has left the UK with “crumbling infrastructure”, a productivity crisis, and “anaemic” growth figures.

He said a government prepared to invest in the UK economy and pursue an active industrial strategy could bring back a “renaissance in manufacturing”.

Labour’s proposed investment package will provide funding for green industries and the “technologies of the future”. This is needed to avoid “climate catastrophe” Corbyn added with the ultimate goal to reduce the UK’s net emissions to zero by 2050 at the latest.

“This is not going to happen by itself,” he said. “It requires large scale public investment into renewable energy and home insulation which in turn will create new opportunities for private enterprise.

This is not a burden, it’s an opportunity to kickstart a green jobs revolution.”

Labour believes its plans will create at least 400,000 skilled jobs and bring about a sevenfold increase in offshore wind, double onshore wind and triple the electricity generated by solar power.

“These new manufacturing and engineering jobs will bring skills and opportunity to parts of the country that have been held back by decades of neglect,” Corbyn said. “Technology and manufacturing don’t have to be a threat to our environment. Our responsibility is to develop the next generation of technology that will help us to preserve our natural world and protect our resources.”

He said his party would launch a £250bn spending package on infrastructure if it wins the next general election that would “benefit every region of our country, not just London and the South East”.

He criticised the UK Government for recent figures which show the UK’s manufacturing sector is performing worse than at any time since 2008.

“The manufacturing industry is the beating heart of our economy,” he said, while speaking at the EEF’s annual manufacturing conference. “For those employed in the sector, manufacturing doesn’t just offer good jobs that pay well, it offers creative and satisfying work. But manufacturing needs the right environment to flourish: high quality infrastructure, a skilled workforce and open and stable trading relations.

“No doubt, the uncertainly generated by the government’s shambolic handling of Brexit has had an impact, as has weaker global demand.”

Corbyn criticised nine years of “unnecessary austerity” that has left the UK with “crumbling infrastructure”, a productivity crisis, and “anaemic” growth figures.

He said a government prepared to invest in the UK economy and pursue an active industrial strategy could bring back a “renaissance in manufacturing”.

Labour’s proposed investment package will provide funding for green industries and the “technologies of the future”. This is needed to avoid “climate catastrophe” Corbyn added with the ultimate goal to reduce the UK’s net emissions to zero by 2050 at the latest.

“This is not going to happen by itself,” he said. “It requires large scale public investment into renewable energy and home insulation which in turn will create new opportunities for private enterprise.

This is not a burden, it’s an opportunity to kickstart a green jobs revolution.”

Labour believes its plans will create at least 400,000 skilled jobs and bring about a sevenfold increase in offshore wind, double onshore wind and triple the electricity generated by solar power.

“These new manufacturing and engineering jobs will bring skills and opportunity to parts of the country that have been held back by decades of neglect,” Corbyn said. “Technology and manufacturing don’t have to be a threat to our environment. Our responsibility is to develop the next generation of technology that will help us to preserve our natural world and protect our resources.”

Jack Loughranhttps://eandt.theiet.org/rss

E&T News

https://eandt.theiet.org/content/articles/2019/02/corbyn-promises-250bn-to-spur-manufacturing-renaissance/

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