Government launches Industrial Strategy Advisory Council to boost growth and living standards
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Business leaders from across the UK have been brought together to
offer government independent advice and recommendations as it
develops a new, modern Industrial Strategy to support the growth
mission. The strategy will help maintain a pro-business
environment to capture a greater share of internationally mobile
investment and motivate domestic business to boost their investment
and scale up their growth. It will channel support to sectors
and geographical...Request free trial
Business leaders from across the UK have been brought together to offer government independent advice and recommendations as it develops a new, modern Industrial Strategy to support the growth mission. The strategy will help maintain a pro-business environment to capture a greater share of internationally mobile investment and motivate domestic business to boost their investment and scale up their growth. It will channel support to sectors and geographical clusters that have the highest growth potential for the next decade. This government wants the UK to be a prime investment opportunity for business. The Industrial Strategy, and the Industrial Strategy Advisory Council, will be key to giving investors the solid foundation on which to build. An integral part of the government's Plan for Change to kickstart economic growth, the Industrial Strategy will focus on promoting the UK's key growth-driving sectors. The Chancellor of the Exchequer Rachel Reeves and Business and Trade Secretary Jonathan Reynolds will attend the inaugural Industrial Strategy Advisory Council meeting to hear from its members as it meets for the first time today [Tuesday 17 December]. Hosted at Lloyds Insurance in London, members will use the first meeting to discuss investment, innovation, and breaking down barriers to growth in key sectors as well as some emerging themes in responses to October's Industrial Strategy Green Paper. The government is determined to go for growth and to work in partnership with business, civil society, trade unions, local leaders and devolved governments to invest in Britain's future so we can make every part of the country better off. Chancellor of the Exchequer Rachel Reeves said: Driving long-term economic growth requires ambition and collaboration. With the Industrial Strategy Advisory Council, we're bringing together the brightest minds to inform our Industrial Strategy and deliver growth that will improve living standards and that can be felt across every corner of the UK. Focusing on growth-driving sectors, our highest potential city regions and clusters, and how the pro-business environment can help them thrive, the Council will also monitor and evaluate impact, with data and analysis central to this mission. Following today's meeting, Council members will embark on an extensive programme of engagement to take account of views from businesses, academia, devolved governments and local leaders across the UK, building on the more than 3,000 consultation responses received in response to October's Green Paper. Business and Trade Secretary Jonathan Reynolds said: The UK is one of the most connected places in the world to do business, and investors should be in no doubt that Britain is back on the global stage, helping attract investment into the most productive parts of the UK economy. Whether it is investment into new film studios, cutting-edge technologies, or green energy, the expertise and work of the Industrial Strategy Advisory Council will be key to giving investors the solid foundation on which to build, helping to support local skilled jobs and raising living standards in communities across the UK. The Council will be an independent body, reporting to the Chancellor and the Business and Trade Secretary. In the King's Speech the government committed to putting the Council on a statutory footing – giving it powers and responsibilities and ensuring it will be permanent and independent. Chaired by Clare Barclay, President, Enterprise & Industry for EMEA, Microsoft, the Council will inform and monitor both the development and delivery of the Industrial Strategy over the long term, ensuring policy interventions are informed by a broad and high-quality evidence base. Membership of the Council includes ex-officio members providing cross-government join up on the government's key missions. Clare Barclay, President, Enterprise & Industry, EMEA and Chair of the Industrial Strategy Council said: I'm delighted to join together with members of the Industrial Strategy Advisory Council today for our inaugural meeting. Our mission is to provide a clear, independent voice on behalf of business, nations, regions, and trade unions, as we look to inform the development of the Industrial Strategy, helping to create a strong business environment which will help our growth-driving sectors thrive. The Industrial Strategy is at the heart of the government's Plan for Change with investment and reform to deliver growth, putting more money in people's pockets, rebuilding Britain and securing our borders in a decade of national renewal. Full list of Industrial Strategy Advisory Council members:
ENDS Notes to Editors
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