The Cost of Inaction: Why Hemp Should Be a UK Economic Priority
This week, I was delighted to meet Rt Hon Liam Byrne MP, Chair of the Business and Trade Committee, at an event organised by Max Wilson and Whitehouse Communications, where he laid out his vision for the UK economy. His ambitions include:
- Becoming the fastest-growing economy in the G7
- Helping businesses reach their full potential
- Ensuring government supports industry, not stifles it
- Delivering a pro-business, pro-worker agenda
- Developing better trading relationships, including with the EU
It all makes perfect sense. And yet industries like industrial hemp — capable of creating jobs, unlocking investment, and driving the net-zero transition — remain tied up in outdated regulations and bureaucracy.
Let’s recap on what’s at stake…
- £700m+ in annual economic value if we fully harness hemp for construction, biofuels, and carbon credits (Hemp-30 Report).
- 20,000 direct jobs & 200,000 livelihoods that could be supported across farming, manufacturing, and supply chains.
- Massive carbon savings — hemp sequesters 9-15 tonnes of CO₂ per hectare, more than forests (IJSR).
- A construction revolution — hemp-based materials like hempcrete slash building emissions by 40%, yet outdated policies mean we’re still dependent on carbon-heavy imports.
It’s a challenge that Liam is absolutely and commendably aware of. We still have:
- POCA blocking investment
- No government-backed carbon credit framework
- A SAF industry reliant on imports, when hemp could be a homegrown biofuel feedstock
- A construction sector crying out for net-zero materials, while hemp’s potential is squandered
The world isn’t waiting. And neither should we.
Across the pond, the US is moving ahead with discussions on cannabis rescheduling. Sure, they’ve nominated Terry Cole to lead the DEA, and the industry is bracing for more uncertainty. But the reality is, none of this should be stopping the UK from getting on with building a new industry that delivers jobs, growth, and sustainability.
We’ve also now got a third runway at Heathrow, which means more flights, more demand for biofuels, and more need for carbon credits. We either lead — or we pay to import solutions we should be creating ourselves.
The bottom line?
Liam Byrne’s Business & Trade Committee report talks about the UK needing an "ambitious trading reset." We wholeheartedly agree and have an industry ready to take up the slack. Industrial hemp is primed to scale, to create jobs, and to drive economic growth.
So let’s clear away the obstacles and get this show on the road.
