United Kingdom launches post-Brexit industrial strategy

Jack Taylor via Getty Images

Jack Taylor via Getty Images

"Already employers are seeing the value of the new degree-level management programmes to meet the critical gaps in management skills, and government could do far more to leverage this investment as part of its Industrial Strategy".

Her 255-page white paper - which adopts a hands-on approach to business that had largely been abandoned since the time of Margaret Thatcher in the 1980s - is being seen as an attempt to define her administration beyond Brexit, while also charting a new vision for the United Kingdom as it prepares to leave the European Union.

The Industrial Strategy White Paper aims to address the UK's poor record on productivity as well as embracing technological change and supporting businesses and workers.

This will include £170 million to transform the construction sector and help create affordable places to live and work that are safer, healthier and use less energy, and up to £210 million to improve early diagnosis of illnesses and develop precision medicine for patients across 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".

Full details of the deal will be confirmed later today when Business Secretary Greg Clark unveils the government's Industrial Strategy plans.

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The policy document identified challenges for the economy including the emerging importance of artificial intelligence, the shift to cleaner economic growth, radical changes in mobility such as electric and self-driving cars, and an aging society.

For many, the strategy has highlighted a need for collaboration within the industry, as well as between government and businesses, in order to realise its ambitions.

The launch of the strategy came as the government announced it has secured an investment by world-leading life sciences company MSD.

"The Industrial Strategy is an unashamedly ambitious vision for the future of our country, laying out how we tackle our productivity challenge, earn our way in the future, and improve living standards across the country".

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

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"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".

Hugh McNeal, RenewableUK Chief Executive expressed disappointment that the Industrial Strategy does not mention onshore wind, wave or tidal energy.

The strategy says the United Kingdom will take an AI worldwide leadership role by investing £9m in the new Centre for Data Ethics and Innovation announced in the Budget.

"The government is also right to highlight the benefits of moving towards a more circular economy in which resources are used more efficiently, and a dedicated Bioeconomy Strategy is an important step forward in this regard". To create a sustainable economy requires greater use of data and technology to reinvigorate and grow many sectors - this includes manufacturing, professional services, retail banking and telecoms.

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