09 Sep 2008 05:09:42
Manufacturing gets £150m to shift to low carbon economy
Manufacturing is to get a £150 million package to help the sector stay "ahead of the game" and capitalise on the low carbon and environmentally conscious economy.
Business secretary John Hutton launched the new strategy Manufacturing: New Challenges New Opportunities, which includes "seizing the opportunities of the low carbon economy".
The strategy aims to help UK companies weather the current economic downturn and emerge stronger better able to engage in the global marketplace.
Mr Hutton said: "Manufacturing is central to the success of the UK economy and it is vital the sector has the right foundations to endure the current economic slowdown and emerge stronger and fitter than ever."
He added that the UK is the world's sixth largest manufacturer and that with support could become a world-leader in green technologies, "supporting thousands of 'green collar jobs'".
The strategy involves the creation of a new Office for Renewable Energy Deployment to develop the UK supply chain so it can better serve the renewable sector.
According to the Department for Environment, Food and Rural Affairs, business accounted for 17 per cent of emissions in 2006. Yesterday's strategy claimed a new low carbon industrial strategy will be unveiled next year designed to help manufacturers make the transition to the low carbon economy.