The Chancellor delivers the Autumn Budget 2026 today, 28 October, and UK manufacturers have made it clear what they want: lower industrial energy costs. Ahead of the Budget, Make UK and RSM published their Investment Monitor 2026, which sets out the pressure on factories and what could unlock new investment. Here’s what the survey says and what it means if you buy or make steel parts in the UK.

What manufacturers are asking for in the Autumn Budget

According to the Investment Monitor, as reported by Manufacturing Management:

• 56% of manufacturers think the UK has become a less attractive place to invest over the past three to five years, partly because of industrial electricity prices that are among the highest in Europe.
• Investment is being squeezed. Average spending on plant and machinery fell from 6.8% to 6.4% of turnover, and research and development fell from 6.2% to 5.1%.
• The appetite is still there. Of the firms considering a major increase in capacity over the next 12 to 24 months, 62% said they would prioritise expanding in the UK.
• Tax matters more. 35% said a supportive tax environment would encourage them to invest more, up from 24% a year earlier.
• AI is climbing the list. 41% now see artificial intelligence as a key investment priority, up from 27% last year.

Make UK wants electricity policy levies moved into general taxation and the British Industrial Competitiveness Scheme (BICS) expanded to all manufacturers and brought in sooner. It is also asking for help with employment costs and a wider Made Smarter programme. Make UK chief executive Stephen Phipson said: “Manufacturers want to invest and grow here, but the highest industrial electricity prices in Europe are draining the confidence and headroom they need to do so.”

What it means for UK manufacturers and steel part buyers

Nobody knows what the Budget will contain until the Chancellor sits down, and any changes will take time to feed through. In the meantime, a few practical points for anyone buying cut, folded or fabricated parts:

• Energy is part of every part price. Laser cutting, folding and welding all use power, so energy costs show up in what you pay, wherever your parts are made.
• Get current quotes. If you’re budgeting for next year, ask suppliers for up-to-date prices rather than relying on last year’s figures.
• Look at the whole cost. Lead times, delivery and how quickly problems get put right matter as much as the unit price.

UK-made in Shaw, Oldham

At Kaizen Engineering we laser cut, fold and fabricate made-to-order steel parts at our works in Shaw, Oldham, from one-offs and short batches to regular repeat work. We offer same-day quotes and same-day laser cutting. Find out more about our laser cutting, press braking and steel fabrication services.

Send us your drawing

Email your drawing to sales@kaizen-eng.com with the material, thickness and quantity, or use our request a quote page, and we’ll come back with a quote the same day.

Kaizen Engineering, Thomas Street, Shaw, Oldham OL2 8PG
Made Up North. Built to Last.

Sources

• Manufacturing Management, “Manufacturers call for energy cost reforms ahead of Autumn Budget”, 26 October 2026: manufacturingmanagement.co.uk
• The Manufacturer, Daily Manufacturing News Digest, 28 October 2026: themanufacturer.com
• House of Commons Library, “Autumn Budget 2026”: commonslibrary.parliament.uk