Manufacturers digest the Budget: Read our newsletter

Welcome to our fortnightly roundup of the top stories you need to read as a UK manufacturer. The big news from the past two weeks is the Autumn Budget. The S&P Global UK Manufacturing Purchasing Managers’ Index? (PMI?) for October has also been released, revealing slowdown in the sector.? ??

Autumn Budget brings cost considerations: Rachel Reeves’ first Budget as Chancellor brought a few key announcements for manufacturers, with the National Insurance rise for employers and the rise in National Living Wage and business rates being key. This has led some to remark that more than half of Budget tax rises are to be paid by firms. The industry has reacted, with Stephen Phipson, Chief Executive of Make UK, praising the commitment to the Industrial Strategy. The budget also brought good news for SMEs, as the government announced the expansion of Made Smarter Adoption, its program to help SMEs adopt technology and digital skills. ?

Industry slips into contraction: The S&P Global UK Manufacturing Purchasing Managers’ Index? (PMI?) for October revealed a lack of market optimism and slower economic growth. The analysis was taken pre-Budget, however, so next month’s Index will be eagerly awaited.?

Looking into the 2025 manufacturing crystal ball: Global market research company Forrester has released its manufacturing predictions for 2025, foreseeing that the four big trends that will shape the industry over the next year will be: integrating digital capabilities with physical products, electrifying dirty industrial processes, rebalancing global supply chains and getting to grips with automation. They also predict that over 50 percent of manufacturers will have to slow electrification as the grid fails to keep up, and Chinese manufacturers will move production to Europe. Whilst claims abound that humanoid robots will transform the sector, Forrester predicts that this will not be the case in 2025, when it claims that less than 5 percent of the robots entering factories and warehouses will walk.?

Inspiration station: Hear from Dr Emma Keller, Head of Sustainability at Nestlé - which also happens to be a OneAdvanced customer. Their sustainability journey follows a ‘hearts, minds, and hands’ framework combining internal sustainability champions, core KPIs and action plans for change.?

National Lorry Week: It’s National Lorry Week! This celebration of road freight is important for manufacturers, who rely on fleets and drivers to deliver them the vital supplies they need, and get their products to customers. Take the opportunity to celebrate your road haulage function, whether that is a carrier partner or your own team. Get inspired with our blog: Celebrating National Lorry Week: 5 reasons to be excited about road freight. ?

See you in two weeks for more manufacturing news and food for thought!?