Advanced Manufacturing Plan (AMP)

The Advanced Manufacturing Plan (AMP), launched by UK Business and Trade Secretary Kemi Badenoch on November 26, 2023, is a comprehensive initiative aimed at bolstering Britain's manufacturing sector. Here's a summary of its key aspects:\n\nScope of the Scheme:\n\nThe AMP is designed to enhance the UK's manufacturing industries, specifically targeting the automotive, aerospace, clean energy, and life sciences sectors. It includes a focus on zero emissions technology and green economy, aligning with the UK's decarbonization efforts.\n\nEligibility Requirements:\n\nThe plan primarily targets the UK's manufacturing businesses, with a particular emphasis on sectors undergoing significant transitions, such as automotive and aerospace industries.\n\nPurpose:\n\nThe AMP aims to make the UK the most favorable location for starting and growing a manufacturing business.\nIt focuses on creating high-paid jobs, attracting long-term private investment, and securing the advanced manufacturing sector's future in the UK.\n\nType of Instrument:\n\nThe plan involves targeted funding, support measures for business environment improvement, investment attraction initiatives, and policy strategies.\nThe scheme is backed by the UK government, particularly the Department for Business and Trade.\n\n\nFunding:\n- Over £4.5 billion has been allocated in the Autumn Statement for this initiative.\n- Specific allocations include over £2 billion for the automotive industry, focusing on batteries, and £975 million for aerospace.\n- The Battery Strategy within the plan includes £50 million in new government funding.\n\nKey Measures:\n- The plan includes measures for improving business environment, such as faster grid connections, full expensing, and increasing apprenticeships.\n- Expansion of the Made Smarter Adoption program to support small and medium-sized manufacturing businesses.\n\nLong-Term Goals:\nThe AMP aims to establish the UK as a leader in zero emissions technology and to develop a globally competitive battery supply chain by 2030. It seeks to leverage the UK's position in manufacturing to create jobs and drive economic growth.