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Adam Hawksbee: Only by making full expensing permanent can Hunt stimulate the investment British manufacturing needs

Conservative Home

Adam Hawksbee, Onward Deputy Director, writes for Conservative Home on the need for Hunt to prioritise British manufacturing in the Autumn Statement.  He writes:

‘The recent history of British deindustrialisation is both simple and underappreciated. Thirty years ago, manufacturing generated about one in every six pounds of the UK’s economic output; by 2009, after the financial crisis, the figure was one in every ten pounds. It has stayed at that level ever since.

So the 1990s and 2000s represented the tail-end of a transition towards a service-based economy – a sectoral shift which has now largely stopped. We are left with a manufacturing base that is smaller, but stable and highly productive, providing opportunities in places that need it most and underpinning our economic resilience.

But energy prices, interest rates, and a tight labour market have hit these firms hard. When the Chancellor delivers the Autumn Statement next week, he should prioritise British manufacturing.’


Read the full piece here.

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