Chi Onwurah MP the Shadow Minister for Innovation, Science and the Digital Economy today spoke of the importance of the chemicals industry to the UK’s economy.
Giving the keynote speech at the annual dinner of the Chemical Industries Association in London, she described the industry as an “under-promoted UK success story”, investing over £5 billion each year in the UK on research and development.
She said that the industry must be at the “very core” of the future economy in order for Britain to compete internationally.
In order to secure a sustainable future for industry in the UK, government must act intelligently to create certainty, remove barriers to innovation and growth and help create the conditions for long-term success in global as well as domestic markets, she said.
Chi contrasted the Tory-led government’s “last minute” introduction of carbon floor prices with Labour’s zero carbon homes target, she stressed the importance of government giving industry “clear purpose and enough time to plan” to give British firms “a head start” and to help spur innovation.
With this approach, the transition to a post-carbon economy becomes an “opportunity to be embraced, not a burden to be resisted”, she said.