Plans to create 80,000 jobs in the car industry
Labour has today pledged ‘a bright future’ for British industry under a Labour Government ahead of Keir Starmer’s speech to the British Chambers of Commerce on Wednesday.
New analysis shows Labour’s plans to part-finance eight gigafactories will boost jobs in the automotive sector by 50%, creating 80,000 jobs and powering nearly two million electric vehicles. This will be welcome news for our region following the recent collapse of startup Britishvolt with its plans for a gigafactory for battery production at Blyth.
Labour’s plans comes as Britain faces increased pressure following the Inflation Reduction Act in the US and the EU’s response, with many firms warning the UK risks becoming ‘uncompetitive’. MakeUK – the manufacturing group – have warned the Government to ‘stop flip flopping on Industrial Strategy’ as it is hurting investment in UK firms.
Labour’s mission to take Britain’s economic growth from the bottom of the G7 league table to the top includes their plans for an Industrial Strategy Council on a statutory footing, matching the long term investment cycles of industry and providing the certainty firms need to invest in Britain.
Commenting on the findings Shadow Business Secretary Jonathan Reynolds MP said,
“Labour is ambitious for Britain’s future, and our plans will bring investment and jobs to the industrial heartlands we are so rightly proud of. Britain is a fantastic place to work, grow or start a business, but firms need a government that will fight for them in an increasingly competitive global race.
Labour will never be complacent about our industrial base. We have a plan to ensure the jobs of the future are here in Britain. Labour will build the strong economic foundations business needs to succeed: growing our economy with a modern Industrial Strategy, our plans to make Brexit work, reforms to the apprenticeship levy and business rates to give firms the flexibility they need.”