Business leader welcomes Government's business strategy

Alicia Cross
November 28, 2017

Construction, artificial intelligence and the automotive industry are the other key sectors being targeted by the government, in the aim of "making the United Kingdom the world's most innovative nation by 2030".

This could mean an extra £80bn investment in advanced technology, according to government estimates.

Prime Minister Theresa May said: "Our modern Industrial Strategy will shape a stronger and fairer economy for decades to come". It will help create the conditions where successful businesses can emerge and grow, and support these businesses in seizing the big opportunities of our time, such as artificial intelligence and big data, whilst also making sure our young people have the skills to take on the high-paid, high-skilled jobs this creates.

Business Secretary Greg Clark's plan has been nearly a year in the making and "will see ministers agree dozens of sector deals with different parts of industry to drive the economy forward and reverse Britain's productivity crisis", says Politico's Jack Blanchard.

Other sector specific deals are due to be unveiled in Artificial Intelligence, the automotive and construction industries in the coming weeks. The green paper was announced to much fanfare earlier this year, however our recent Future Attitudes study, which surveyed over a thousand senior SME decision makers across the United Kingdom, revealed an astonishing lack of awareness about the Strategy, with fewer than three in ten (29 per cent) small and medium-sized enterprises claiming to have heard about it...

MSD has confirmed plans to plans to establish a UK Discovery Centre, following similar investments in new biomedical centres in the San Francisco Bay Area and Cambridge Massachusetts.

Unveiling the Strategy this morning, BEIS Secretary Clark said: "The way we earn and live our lives as workers, citizens and consumers is being transformed by new technologies".

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Speaking at the annual ESA lunch in London on 24 November, Davies said: "We have been finding our way into the Beis to make the case for the sector and engage proactively with the industrial strategy as it is formulated, funded and rolled out".

"We have commercial and industrial sectors - from advanced manufacturing to financial services; from life sciences to the creative industries - which are competitive with the best in the world".

CEO Dr Colin Church says "CIWM was looking for the Industrial Strategy White Paper to recognise the role improving resource productivity can play in helping the United Kingdom economy meet the challenges it faces".

This stems from the 2,000 responses the government received to its original green paper, published earlier this year, which suggested that it takes a whole systems approach to the energy market.

And subsequently, it is based on five "foundations of productivity" (right), pared down from the Green Paper released in January, which was based on 10 pillars.

In the strategy, the government has identified 4 Grand Challenges; global trends that will shape our rapidly changing future and which the United Kingdom must embrace to ensure we harness all the opportunities they bring. It will ensure Britain continues to be at the forefront of innovation and represents a huge vote of confidence in our Industrial Strategy. "It is positive to see that clean growth is now a core objective for the strategy and there is increased focus on energy and resource productivity, and strengthening the synergies between power, heat and transport systems".

She said: "Nothing in the White Paper will help give businesses the certainty or incentives they need to invest in the face of the Government's catastrophic handling of Brexit". It's a sector that holds enormous potential for technological breakthroughs, job creation and boosting productivity.

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