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06/17/2024 | News release | Distributed by Public on 06/17/2024 08:50

2024 Labour and Conservative manifestos: Compare and contrast for manuf...

Labour and the Conservatives published their manifestos last week ahead of the UK General Election on 4 July 2024.

What are the key takeaways for manufacturers? We compare and contrast their viewpoints in our succinct breakdown:

  • Industrial strategy

The Conservatives will push forward with the Advanced Manufacturing Plan, with a £4.5 million commitment to specific sectors including automotive, aerospace, life sciences and clean energy.

Meanwhile, Labour will introduce a new industrial strategy, with a focus on long-term economic policy via an Industrial Strategy Council. They have also promised £1.5 billion in new gigafactories for automotive.

  • Infrastructure

Labour promises to maintain and renew our road network, and pledges £1.8 billion to upgrade ports and build supply chains.

The Conservatives offer £8.3 billion to fill potholes and resurface roads, with no clear promises on ports.

  • Corporation tax

Both parties plan to cap it at its current level.

  • R&D

Labour promises to scrap short funding cycles in favor of ten-year budgets.

The Conservatives will increase public spending on R&D to £22 billion a year, up from £20 billion this year.

  • EU border checks

Labour have said that the UK will stay out of the single market, but promised a new veterinary agreement with the EU to prevent unnecessary border checks and help tackle the cost of food.

The Conservative manifesto appears to rule out such an agreement.

  • Farmers & fishing

Conservatives will increase the UK-wide farming budget by £1 billion to support domestic food production, and promises a £100 million UK Seafood fund. Labour is silent on farming and seafood budgets.

Labour is promising to support British farming whilst protecting the environment, introducing a land-use framework and making environment land management schemes work better for farming.

  • Green energy

The Conservatives promise £1.1 billion for the Green Industries Growth Acceleratorto support British manufacturing capabilities with clean energy supply chains.

Labour has ringfenced £1.7 billion a year for the Great British Energy company, a publicly-owned company for clean energy technology.

  • Green transport

Labour will reinstate the petrol and diesel ban by 2030, which the Conservatives have delayed to 2035 - claiming this will bring clarity to the automotive industry. Labour has promised to rollout new charge points for Electric Vehicles across the UK, with the Conservatives also saying they will ensure the charging infrastructure is truly nationwide.

  • People management

Labour have promised changes to the way that contracts are structured in terms of hours and payroll - as well as an end to zero-hours contracts - which will affect how manufacturers manage their workforce. They will also reform the Apprenticeships Levy, and invest in Technical Excellence Colleges, which focus on linking vocational training with local businesses, and may be helpful in building up a manufacturing skills pipeline.

The Conservatives have promised 100,000 more apprenticeships, funded by scrapping University courses with the worst outcomes for students.

Want to join the conversation around the future of EU imports? Sign up for our upcoming webinar on 27thJune at 2pm, 'Navigating post-Brexit rules: A new challenge for UK supply chains'. Join experts from the key industry bodies representing those affected:

Register for free: https://event.on24.com/wcc/r/4610326/37DF1ED68B6A135D30E85775B8F4CB3A