Manufacturing Industries: Investment
The question
To ask the Secretary of State for Business and Trade, what assessment he has made of the impact of current manufacturing investment incentives on national manufacturing output.
Answered by Blair McDougall
Effective monitoring and evaluation is integral to assessing manufacturing policy. Current investment incentives are tracked through operational metrics and economic indicators including business investment, productivity, exports, GVA, labour market outcomes and growth of large UK firms.
Recent impact reports show that major programmes are delivering strong returns; for example, the Advanced Propulsion Centre’s R&D programme generated £2.20 of additional private investment for every £1 of public funding. Together, these assessments help ensure that incentives support increased manufacturing capability and long term national output.
Delivery progress against new Industrial Strategy commitments, including for manufacturing, is captured in regular Quarterly Updates.
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