In this new report, the CBI calls for a commitment to increasing R&D spend from 1.7% to 3% of GDP by 2025. This would put the UK on roughly level terms with countries such as Germany and Sweden. They also make the important point that it should be a joint target met by the government and private sector, as it will undoubtedly take a well coordinated partnership to make this happen.

Alongside this we must also ensure that UK manufacturing is ready to make the most of this new technology. As the skills and processes become ever more specialised and complex, this means creating the right environment for innovation and investment in manufacturing as well as product development. This must surely apply both to oems and the sub-contract supply chain? Let’s hope the Industrial Strategy is able to deliver a holistic plan that will fully realise the value available from R&D innovation.