Last year, the T&G warned that 2029 was “Year Zero” for British manufacturing. That is when, on current job loss trends, we face wipe-out. We were criticised as doom-mongers.
Yet, in an array of bewilderingly mixed statistics, it is clear we are losing more than 100,000 manufacturing jobs a year. Worse still, from a strategic, economic view, they are not being replaced on a like-for-like basis.
There is no doubt manufacturers are having a tough time, in spite of the economic stability Labour has overseen. The effects of globalisation, coupled with higher energy costs – largely the result of suppliers’ and producers’ greed – are costing businesses dear. What we need, and what we’ll be calling for at this month’s TUC conference, is a much clearer and positive industrial strategy.
We need a strategy for stability