UK Industrial Strategy promises growth and jobs for North Wales

Wales is set for increased economic growth, billions in investment and tens of thousands of new jobs over the next decade as a result of the UK Government’s modern Industrial Strategy, published on Monday 23 June.

Airbus’s wing plant in Broughton is among the key beneficiaries, supported by measures to slash electricity costs for thousands of manufacturers.

From 2027 the British Industrial Competitiveness Scheme will reduce electricity costs by up to £40 per megawatt hour for more than 7,000 energy-intensive manufacturers, including firms in automotive, aerospace and chemicals, by exempting them from levies such as the Renewables Obligation and Feed-in Tariffs.

The strategy also increases support through the British Industry Supercharger, raising the discount on electricity network charges for steel, chemicals and glass producers from 60 per cent to 90 per cent from 2026, helping safeguard existing jobs and future investment.

The plan highlights Wales’s strengths in aerospace in North Wales and the world’s first compound semiconductor cluster in South Wales.
It allocates more than £4 billion for advanced manufacturing over five years, supporting companies such as Airbus at its Broughton wing plant.

Prime Minister Keir Starmer said: “This Industrial Strategy marks a turning point for Britain’s economy and a clear break from the short-termism and sticking plasters of the past. In an era of global economic instability, it delivers the long term certainty and direction British businesses need to invest, innovate and create good jobs that put more money in people’s pockets as part of the plan for change. This is how we power Britain’s future, by backing the sectors where we lead, removing the barriers that hold us back, and setting out a clear path to build a stronger economy that works for working people. Our message is clear, Britain is back and open for business.”

John Harrison, Chair of Airbus UK, said: “Airbus welcomes the Industrial Strategy and its recognition of the advanced manufacturing cluster in North Wales, which is a vital part of the Welsh economy. Our world-leading wing manufacturing facility at Broughton is a cornerstone of this cluster, supported by a highly-skilled workforce and a deep supply chain. We are particularly pleased to see the specific commitment to improve rail connectivity between North Wales and the North West of England. This is a game-changing investment that will support our thousands of employees and partners across the region. This strategy provides a clear plan to ensure Wales remains at the forefront of global aerospace manufacturing and innovation.”

Jo Stevens, Secretary of State for Wales, said: “Wales has huge potential and our government’s Industrial Strategy will harness the strengths of our businesses and workforce to drive growth and create jobs. The strategy will support key sectors like aerospace and compound semiconductors while developing industries of the future like floating offshore wind where Wales is well-placed to be a world leader. Our modern Industrial Strategy is built to last and make Wales one of the best places to invest and do business. Working alongside Welsh Government we will boost growth, raise wages and create wealth across our country.”

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