Chancellor visits Manufacturing Technology Centre to outline growth ambitions
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Manufacturing
The Manufacturing Technology Centre (MTC) welcomed John Healey MP, Chancellor of the Exchequer, to its Coventry headquarters on Monday, where he delivered his first major speech since taking office and set out his vision for driving economic growth across the UK.
Speaking from MTC's new Robot Experience Centre, the Chancellor outlined plans to support growth through investment, innovation and skills development, alongside greater devolution, highlighting how removing obstacles in these areas will strengthen the UK's economy.
The Chancellor was joined by the West Midlands Mayor, Richard Parker, the Rt Hon Jonathan Reynolds, Secretary of State for Business, Innovation, Science and Trade, and the HM Treasury Ministerial Team. The visit provided an excellent opportunity to showcase the expertise, capabilities, and innovation that make MTC a national asset for advanced manufacturing.
Equally important was the focus on skills and talent. The Chancellor spent time speaking with apprentices based at MTC Training's centre at Ansty Park and touring our state-of-the-art training facilities.
Opening his speech, John Healey, Chancellor of the Exchequer, said:
The MTC is an organisation at the very heart of Advanced Manufacturing – and advanced manufacturing is one of our eight Industrial Strategy growth sectors as a government... [MTC] was established to unlock the potential of the UK industry, with practical, leading edge manufacturing with innovation. What better place therefore, for me to speak with you about this government’s determination, our determination for growth, our belief for Britain's future.
John Healey, Chancellor of the Exchequer
In his speech, the Chancellor went on to emphasise the partnership between government, business and academia and the importance of investment, innovation and skills as drivers of economic growth. On innovation, the Chancellor said:
The UK is the third in the world for innovation. Our record is extraordinary. I mean, pause and look around in the MTC.
Our UK formula works: local leaders working with world-class universities, investors, local businesses have created clusters of innovation across the UK... As a result, we are world leaders in frontier technologies – in quantum, in nuclear fusion, in AI, in advanced manufacturing.
But too often, ideas born here in Britain have to go elsewhere to find the capital they need to grow– meaning that the jobs, the benefits and the intellectual property go elsewhere...
Over the coming months I want to go further, working with more departments to earmark dedicated funds to Back British innovation.
John Healey, Chancellor of the Exchequer
Graham Hoare, Chief Executive Officer at MTC, said:
Speaking at our Coventry site today, the Chancellor set out his vision for good growth – and it’s fitting to have that conversation here at MTC, surrounded by the technology, insight and skills that can help make it a reality.
We see first-hand the ambition within UK industry and the opportunities emerging from new technologies and ideas. Turning that potential into commercial success, investment and highly skilled jobs will be key to driving growth in communities across the country.
Graham Hoare, Chief Executive Officer at MTC
