According to a survey conducted by Make UK, 70% of its members expect the reshoring of their activities to accelerate in response to Labour's industrial strategy green paper, titled Invest 2035: The UK's Modern Industrial Strategy.
Make UK believes the potential impact of Labour's strategy could be transformative. The organisation estimates that UK manufacturing, currently valued at £217 billion, could grow to 15% of GDP, adding a further £142 billion to the economy.
A key feature of the strategy is the establishment of a standing industrial strategy council, which will ensure consistency in policy and prevent the short-term changes that have often undermined industrial planning.
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