The government announced the members of the council yesterday - which aims to deliver long-term growth in key sectors. The council, which met today for the first time, will offer government independent advice and recommendations to aid the development of a new modern industrial strategy.
The strategy will focus on: maintaining a pro-business environment, motivate domestic businesses to boost their investment and scale up growth, and support sectors and geographical regions that have the greatest potential.
The council will be an independent body reporting to the Chancellor and the Business and Trade Secretary. The strategy will use investment and reform to deliver growth, put more money in people's pockets and help rebuild the UK.
Phipson said: "This marks the achievement of a very important milestone in introduction of a formal modern industrial strategy which is essential to spur the step change in investment and productivity the economy needs. We welcome the appointment of individuals with experience and expertise who will drive activity. Following on from the consultation and the announcement of the Advisory Council, it’s now vital that Government puts its full shoulder to the wheel to launch a formal long term strategy which has the buy in of every Department.”
