Industrial Strategy ‘An Important Milestone’

The government has today (23 June) released its long-awaited Industrial Strategy, with Labour ministers talking up a new approach to business development and support for key sectors including manufacturing, professional services and the creative industry.

The ten-year plan purports to improve the UK’s business climate, freeing up the economy and making it more resilient to global change.

Responding to the publication of the Industrial Strategy, Shevaun Haviland, Director General of the British Chambers of Commerce said: 

“Today’s Industrial Strategy is an important milestone towards creating a competitive economy that is fit for the future, with thriving businesses in every region of the UK.  

“From start-ups and SMEs to large corporates, firms need a stable environment that enables faster, easier and more certain investment decisions. This strategy is a welcome blueprint for policymakers and business to achieve this.  

“Firms have sounded the alarm about uncompetitive energy bills for years. This is welcome support for electricity-intensive businesses that will ease long-term cost pressures.  

“Access to a skilled workforce is vital to growth. Employers called for a more flexible Growth and Skills Levy and will be relieved that they can access shorter courses to upskill people in work from next April. 

“Plans to improve access to finance - a major barrier for many SMEs – will enable more firms to start, scale and grow.  

“We were pleased to convene business and Government across our Chamber network in recent months. Much of what we shared with policymakers, has been heard and reflected in this strategy. There’s more to do and we are ready to support the next steps. 

“We encourage businesses to get behind this strategy and champion the UK as the best place to live, work, invest, and do business.” 

Trade deals

The government has also include trade deal negotiations within the strategy publication, as well as the sectors that will receive additional trade support in the form of dedicated ambassadors and promotional campaigns.

Among the promises made are a set of pilots to accelerate the adoption of electronic trade documents, building on deals already agreed with the US and EU, and expanding the financial portfolio of the UK Export Finance agency.