UK must renew industrial strategy and stop ‘flip flopping’, say manufacturers

Make UK warns British firms risk losing out, as Joe Biden’s Inflation Reduction Act sucks up investment

Britain needs to relaunch an industrial strategy and stop “flip flopping” on initiatives if it is to avoid falling behind on the global stage, manufacturing bosses have warned.

Make UK, which represents 20,000 manufacturers across the country, warned British businesses risked losing out to companies elsewhere around the world because of the government’s lack of a long-term plan for industry, while Joe Biden’s $369bn (£292bn) Inflation Reduction Act sucks up investment.