The trade body Make UK is reiterating its demands for Labour to come up with a joined-up industrial vision, or else risk losing billions of pounds in investment abroad.
It says that although the country cannot compete with the financial incentives in the Inflation Reduction Act in the US or the green deal in the EU, Britain can compete on innovation as long as there is a joined-up strategy on tech, robotisation, renewable energies, and training.
The head of Make UK, Stephen Phipson, speaking before a meeting on Wednesday with the chancellor, Rachel Reeves, said: "I have lots of chief executives from international companies coming into my office and telling me they have billions to invest and that the UK is a candidate but they are not investing anything unless they know what the plan is."
He added: "Industrial strategy is so urgent, we need this tomorrow."
Phipson, whose body represents industry players ranging from RollsRoyce and Siemens to Airbus and Tata in Wales, as well as Jaguar Land Rover in Coventry, also intends to press Reeves on the need to fix the "terrible" damage done by David Frost's trade and cooperation agreement with the EU.
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