No major economy functions without a manufacturing sector. Data from the World Bank shows that the manufacturing sector makes up an average of 13.1% of the G7 economies, 14.7% of European Union member economies, 27.4% of the Chinese economy however just 8.8% of the UK economy.
The UK government needs to decide now if it wants a manufacturing sector, at the heart of which is the chemical industry, providing vital raw materials and innovative breakthroughs crucial for the net zero transition. There is clearly one answer to the question posed above, and to deliver it we need the Government to show the world that the UK is open for business and the place to invest.
To this end, we need stability: stability on energy prices, stability on industrial action, stability of regulation and stability of the political machine. The best way of doing this is to have a clear industrial strategy.