UK Gov publishes Industrial Strategy

Posted November 29, 2017

Clark considered his country to be "well-placed to benefit from this new industrial revolution" and starting "from a position of significant strength".

The white paper can be accessed here.

Leading retailers aspire to source more apparel from domestic manufacturers and a partnership with government for an industry sector deal which would herald an opportunity to make a material difference in breaking down the barriers to creating a world-leading, high-tech ethical fashion manufacturing industry based here in the United Kingdom, from a small base today.

Amongst the mentioned objectives was the transformation of the construction sector, highlighted as one of the greatest global challenges faced by the UK. "Raising digital literacy goes hand in hand with maintaining and building on productivity gains in the industry, that continue to outpace the United Kingdom average, and supports the Government's aspiration of a digital economy that works for all".

Mr Clark said the new industrial strategy would strengthen infrastructure and the business environment in an effort to improve productivity.

Regarding sustainable financing, the new Industrial Strategy provisions the establishment of a new Green Finance Taskforce, which along with the British Standards Institution and the City of London's Green Finance Initiative will work towards developing the world's first green financial management standards.

"Businesses will now want to see clear evidence that this Industrial Strategy can be implemented over the long term as the United Kingdom has demonstrated time and again that it is not good at sustaining long term policies".

The government said it would create "Sector Deals" to help improve efficiency in the construction industry, develop and improve artificial intelligence (AI) technologies and enable the automotive sector to get cleaner.

John Bell, chairman of the Life Science Industrial Strategy Advisory Board, said:"Investments by world-renowned companies like MSD and Qiagen demonstrate that the UK's science base is truly world-leading and an exceptional national strength".

"We believe that people and skills are the single most important aspect for the success of the deal and indeed, the Industrial Strategy".

"We now look forward to further detail on the sector deals between the pharmaceutical industry and government on the back of Sir John Bell's impressive Life Sciences Industrial Strategy", commented ABPI chief executive Mike Thompson.

"The government now needs to follow up on this promising white paper with concrete support for the AD sector so it can deliver its huge potential across the United Kingdom".

"There is still plenty to do, including supporting those millions of small businesses not yet taking advantage of basic tech", he said. "Our research indicates that big data and the Internet of Things can create 182,000 new jobs in these sectors from 2015-2020, and inject £322 billion of additional revenue into the United Kingdom economy".

It will form part of a zero emission road transport strategy to be published in the coming months, with a further £40 million pledged to support research and development of on-street and wireless charging technologies.

"We now need to work with BEIS to promote well-functioning markets for secondary raw materials, the key foundation for the UK's ability to create a low-carbon, resource efficient economy".