Industrial strategy focus on four pillars for future United Kingdom growth

Katrina Barker
November 29, 2017

The potential of sector deal was first announced in January by Prime Minister Theresa May in an industrial strategy green paper, for which nearly 2,000 consultation responses were submitted.

Under the new plans, government investment in research and development will rise from 1.7% to 2.4% GDP in the next ten years, marking what the white paper calls "the biggest increase in public investment in R&D in our history".

The new "Transforming food production: from farm to fork" programme aims to boost sustainable agricultural practices, by increasing incentives for producers to embrace innovative technologies and techniques. With the Budget last week, and our Industrial Strategy in the years ahead, we will build a Britain fit for the future'.

"Industrial strategies inevitably focuses on exciting new industries, such as AI and life sciences", Willetts said.

Sector deals: Partnerships between government, business and government to pursue innovation in life sciences, artificial intelligence, the automotive industry and the construction sectors.

"We believe that the strong integration of cross strategy themes such as stimulating productivity, growth and exports; investment in research; investment in innovation; investment in infrastructure; attracting and retaining a skilled, fit for goal workforce are fundamental linkages in the Industrial Strategy".

It has pledged to support electric vehicles through a £400 million charging infrastructure investment and an extra £100 million to extend the plug-in auto grant.

Looking to future government publications, Hayler continued: "The forthcoming resources and waste strategy must set out a clear long-term plan for how this can be achieved, and must put in place the right policy levers to ensure we have the right infrastructure to deliver greater resource productivity for the benefit of the United Kingdom economy and environment".

Clean growth - we will maximise the advantages for United Kingdom industry from the global shift to clean growth.

"The Industrial Strategy can have a transformative impact on the UK's economy, driving low carbon innovation and the continued growth of jobs, skills and supply chains", Molho said. 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... It's a sector that holds enormous potential for technological breakthroughs, job creation and boosting productivity. And it needs to give people clean air by speeding up the end of diesel vehicles.

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.

"And by introducing independent scrutiny of the progress of these plans, the government is signalling that there will be a strong focus on measuring delivery which boardrooms will recognise and welcome".

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