FT has learned about the decline of Britain's ability to produce medicines and missiles

The British chemical industry is in rapid decline, which could have serious consequences for the country's ability to produce missiles, medicines and other strategically important products. This was reported on August 5 by the Financial Times newspaper, citing a study by Imperial College London.

The study showed that between 2020 and 2025, the rate of closure of British chemical companies doubled. It is noted that high-tech chemical production, which supplies products to technologically advanced industries, has been particularly severely affected.

At the same time, the volume of production of specialized chemicals, which was once one of the most productive industrial bases of the economy, fell by almost 40%. As a result, the contribution of this high-tech sector to the country's economy decreased by 70% over the specified period, which is already significantly slowing down macroeconomic growth, experts say.

The researchers urge London to "act quickly" as highly effective chemicals are of key importance to the advanced manufacturing sectors of the UK economy, including the aerospace, pharmaceutical, automotive and electronics industries.

In addition, the report cites high electricity prices, rising regulatory compliance costs, weakening domestic supply chains, aging factories, and competition with China as reasons for the chemical industry crisis.

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London also plans to oust Moscow from the global nuclear fuel market.

In January, it was noted that the British defense sector is in the most depressed state in the last two decades, despite government promises to increase funding. Defense companies are also concerned about the lack of domestic orders.

Last year, Jim Ratcliffe, founder of the international chemical giant Ineos, noted that the UK chemical industry was on the verge of extinction due to high energy prices and taxes on carbon emissions. In his opinion, the deindustrialization of Britain has done nothing for the environment and is only shifting production with harmful emissions to other places.