The CBI has commented on the UK government’s Advanced Manufacturing Supply Chain Initiative, which will provide £125m to support UK advanced manufacturing sectors such as aerospace, automotive and chemicals.
John Cridland, CBI director-general, said: “We welcome this new initiative which will help build UK supply chain capability and resilience. It will enhance our manufacturing competitiveness and build on strengths in advanced engineering, research and innovation. Better coordination of effort and a concerted focus to develop areas of comparative advantage will create new manufacturing jobs and drive growth as part of a rebalanced economy. This initiative will help ensure we make the most of value chain opportunities in key sectors such as chemicals, food, automotive and aerospace. It is a clear step in the right direction as part of a new approach to industrial policy.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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