We welcome the Government’s latest move to shore up the UK’s manufacturing base and the recognition of the importance of robust supply chains for economic growth. Particularly welcome is the move to strengthen through capital investments, research and development, and skills training.
More fundamental than cash however is the mind-set of businesses when it comes to managing their own supply chains. Re-shoring is encouraged because it brings increased visibility and transparency to lower tiers of supply chains, where abuses such as slavery or fraud typically take place.
For too long they have been disregarded by CEOs, investors and Governments alike. We hope this latest move by Government represents a step change for all concerned, but there is a long road ahead.