UK manufacturing reacts to new prime minister Liz Truss

Liz Truss has been confirmed as the UK's next prime minister after an eight week campaign
Liz Truss has been confirmed as the UK's next prime minister after an eight week campaign

Following the selection of Liz Truss as leader of the Conservative Party and prime minister, various industry trade bodies have responded.

Stephen Phipson CEO of Make UK, the manufacturers’ organisation said: “We congratulate Liz Truss on her appointment and look forward to discussing the critical importance of manufacturing, a sector that delivers millions of well-paid, highly skilled jobs across the whole of the UK. Britain’s manufacturers are an excellent example of a growing success story, contributing billions of pounds to GDP every year and vital in implementing the Government’s levelling up agenda, creating jobs where they are most needed.

“But industry at this time needs decisive action from the new Government to help it through a prolonged period of unprecedented hikes in energy bills, rising cost of raw materials and critical labour shortages in order to keep Britain’s place as a leader of innovation on the world stage.”

Liz Truss with Boris Johnson on a visit to GKN Aerospace, Bristol in 2021
Liz Truss with Boris Johnson on a visit to GKN Aerospace, Bristol in 2021

Mike Hawes, SMMT chief executive, commented: “SMMT congratulates Liz Truss on her election as Leader of the Conservative Party and looks forward to working with her and her new team to drive the economic growth and investment the country desperately needs. The new Prime Minister faces immense challenges, not least the urgent need for measures to mitigate the crippling effect of skyrocketing energy prices on businesses and households. Reducing the cost of doing business must be a priority. 

“Growth, however, will depend on a competitive business framework which stimulates investment, drives innovation and positions the UK at the forefront of global issues, not least the race to net zero. UK Automotive is well positioned to deliver these ambitions and the high value jobs that accompany them.”

Tony Danker, CBI director-general, added:  “Congratulations to the new Prime Minister. This is an extraordinarily difficult time to be leading the country, and she has businesses’ full support in meeting shared challenges together, head on.

“Most immediately, support for struggling households and firms in jeopardy is top of the in-tray. This may not be the pandemic, but the exceptional circumstances we now face mean Government must play a central role in supporting our economy.

“And if we’re serious about getting the UK growing again, ensuring any slowdown is short and shallow, we need a serious plan for growth. It needs to be bold, unconventional and rooted in the very real opportunities that still exist for the UK to thrive.”

Marco Forgione, director general of the Institute of Export & International Trade, said: “On behalf of the Institute of Export & International Trade 7,000 members and our wider community of over 30,000 businesses, I congratulate Liz Truss on her victory on becoming the British prime minister.

“It is great to have an incoming prime minister with such a strong background in international trade. The progress made on Free Trade Agreements (FTAs) under her tenure as secretary of state for international trade was significant. That trade was also integral to the development policy she pursued as Foreign Secretary sent a strong message to the world that the UK is first and foremost a trading nation and a dedicated and committed ally.

“She takes over during what is a particularly challenging and turbulent economic period. We want to see an export led recovery that ensures that UK businesses have the tools, the skills, the knowledge and the expertise to seize the opportunities that arise through international trade.

“In particular we would like to see the government establish an MSME task force a micro small and medium enterprise which will look to provide immediate help and support on issues such as the rising cost of fuel and energy. “We stand ready to support her in any way that we can.”

Make UK
www.makeuk.org

SMMT
www.smmt.co.uk

CBI
www.cbi.org.uk

Institute of Export & International Trade
www.export.org.uk 

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