Is Labour’s promise of reindustrialisation realistic for the UK economy?

Dominic O’Connell explores the future of British manufacturing.
In his speech to the Labour Party conference, Chancellor John Healey promised "a new age of industrialisation". But with UK manufacturing output stagnant and England losing over 6,000 manufacturing businesses in the past five years, according to the ONS, can government fiscal policy turn the tide?

In this episode of The Business, Dominic O’Connell considers whether genuine reindustrialisation is possible, as well as the obstacles in the way including the impact of high energy costs, skills shortages and the global impact of Chinese manufacturing competition

Joined by David Smith, economics editor at The Sunday Times, and Liam Sides, director of regional analysis at Oxford Economics, we examine the structural shifts that transformed Britain into a service-based economy over the last 50 years and evaluate what a realistic reindustrialisation strategy looks like for British business, from growing advanced manufacturing sectors like aerospace and pharmaceuticals to regional investment and planning reform.

Guests:
David Smith, Economics Editor at The Sunday Times
Liam Sides, Director of Regional Analysis at Oxford Economics

Presenter:
Dominic O’Connell, Times columnist and Times Radio business correspondent
Producer: Hope Federico
Video Producer: Bronwen Latham  
Executive Producers: Emily Leahy and Miriam Hall
Image: Getty

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