Prime Minister outlines plans for new industrial strategy

24 Jan 2017

Prime Minister Theresa May has outlined proposals for the government’s new industrial strategy, which is designed to provide a boost to the UK economy.

The ten-point plan, which is set out within a government green paper, aims to support those looking to start up in business and help new firms to grow.

It also seeks to drive growth across the UK, encourage trade and inward investment, upgrade infrastructure and deliver affordable energy and clean growth, amongst other proposals.

Alongside the plan, the Prime Minister announced a new strategy for governing the country. She stated: ‘Underpinning this strategy is a new approach to government, not just stepping back and leaving business to get on with the job, but stepping up to a new, active role that backs business and ensures more people in all corners of the country share in the benefits of its success.’

Business groups have largely welcomed the Prime Minister’s plan. Carolyn Fairbairn, Director General of the Confederation of British Industry (CBI), said: ‘A modern industrial strategy will be a landmark opportunity to build a successful, modern economy as the foundation for a prosperous, fairer and more inclusive society.’

Meanwhile, Adam Marshall, Director General of the British Chambers of Commerce (BCC), commented: ‘Business communities across the UK will be pleased to see that harnessing the potential of our cities, towns and counties lies at the heart of the government’s approach to [the] industrial strategy.’