The Industrial Revolution

Following the United Kingdom’s withdrawal from the European Union, the functioning of the UK internal economic market is enshrined by the United Kingdom Internal Market Act 2020 which ensures trade in goods and services continues without internal barriers across the four countries of the United Kingdom.[263][264]

The Industrial Revolution started in the UK with an initial concentration on the textile industry,[265] followed by other heavy industries such as shipbuilding, coal mining and steelmaking.[266][267] British merchants, shippers and bankers developed overwhelming

advantage over those of other nations allowing the UK to dominate international trade in the 19th century.[268][269] As other nations industrialised, coupled with economic decline after two world wars, the United Kingdom began to lose its competitive advantage and heavy industry declined, by degrees, throughout the 20th century. Manufacturing remains a significant part of the economy but accounted for only 16.7 per cent of national output in 2003.[270]

Jaguar XE
Jaguar cars are designed, developed and manufactured in the UK
The automotive industry employs around 800,000 people, with a turnover in 2015 of £70 billion, generating £34.6 billion of exports (11.8 per cent of the UK’s total export goods). In 2015, the UK produced around 1.6 million passenger vehicles and 94,500 commerc

ial vehicles. The UK is a major centre for engine manufacturing: in 2015 around 2.4 million engines were produced. The UK motorsport industry employs around 41,000 people, comprises around 4,500 companies and has an annual turnover of around £6 billion.[271]