The government is planning to focus its modern Industrial Strategy on advanced manufacturing; clean energy industries, creative industries; defence; digital and technologies; financial services; life sciences; and professional and business services.
The green paper is published today on the first day of the government's Global Investment Summit.
Commenting on the Industrial Strategy Green Paper, Stephen Phipson, CEO of Make UK, said: “We live in a world which is massively different to a decade ago and simply leaving the economy and, industrial strategy, to the free market is an ideology which is long past its sell by date. This is a welcome first step in addressing the achilles heel of the economy which has left the UK an outlier among advanced countries. It sets out a clarity of vision for how the resources of Government and, in particular, each department can be convened towards a single objective of long term growth across all regions.
“With the welcome announcement of the Industrial Strategy Council Chair and, the Council being put on a statutory footing, industry will no longer fear the constant chop and change in policy we have seen over the last decade or so and can focus on the long term – it is important that the Government is delivering on its promises.”
Dr Graham Hoare, Chief Executive Officer at the Manufacturing Technology Centre (MTC), also commented: “We welcome the launch of this important industrial strategy which will have huge implications for UK manufacturing.
“The Prime Minister this morning said that the industrial strategy is ‘not about picking winners’. I believe it needs to be about creating winners. That requires the strategy to really make a difference in three areas: creating the confidence to invest; nurturing the skilled people to make it happen; and developing the infrastructure to deliver it.
“These will give us an industrial strategy that not only anchors emerging sectors, but drives growth, providing the UK with the global competitiveness and security that is so urgently required.
“As an organisation which is about the future of work, MTC looks forward to working with the government on delivering a strategy that creates sustainable jobs, growth and a manufacturing sector that will again be the envy of the world.”
