UK recycling policy has stalled. Our outdated, expensive, stagnating system wastes £1.7 billion in resource value every year, and stymies companies who want to invest in and source recycled content from the UK. For this report, the second from the Circular Economy Task Force, we have researched how a better system, focused on realising value in materials, could work. We advocate two ways government could address the structural factors blocking a more circular economy for discarded materials from emerging in the UK, and how this could unlock opportunities for remanufacturing and reuse.