CMI's verdict on the government's Industrial Strategy

Randolph Lopez
November 29, 2017

Clark considered his country to be "well-placed to benefit from this new industrial revolution" and starting "from a position of significant strength".

For the third challenge, the government vows that the United Kingdom will "become a world leader in shaping the future of mobility".

The white paper said: 'As people lead longer, healthier lives, they will need to save and work for longer to ensure they have a secure retirement.

The white paper commits a further £725 million over the next three years in the Industrial Strategy Challenge Fund (ISFC), with the aim of responding to global challenges and opportunities faced by the UK.

The money includes £170million towards building houses that are more affordable and use less energy, and £210million to improve early diagnosis of illnesses and development of "precision medicine" for patients. "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".

Responding to the United Kingdom government's Industrial Strategy, which was unveiled on 27 November by Secretary of State for Business, Greg Clark, BMN hears from the Builders Merchants Federation (BMF) and the Construction Products Association (CPA).

Georgeson also commented on the collaborative role industry can play: "The challenge now is for government to harness the hunger and commitment of our industry to shape this new policy landscape". The final challenge is to ensure that the country uses "the power of innovation to help meet the needs of an ageing society".

"Businesses will now want to see clear evidence that this Industrial Strategy can be implemented over the long term as the United Kingdom has demonstrated time and again that it is not good at sustaining long term policies".

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"We welcome the strategy's plan to champion apprenticeships, and in particular the announcement of new funding of £60m to support apprenticeship take-up by young people and poorer families from disadvantaged areas", she said.

Investments by pharmaceutical companies into the United Kingdom will form a key part of the sector deal, a central industrial strategy measure, set to be signed in the coming weeks by the life sciences sector and government. We have a thriving research and science base and are home to a wide range of innovative sectors, from advanced manufacturing and life sciences, to fintech and creative industries.

Business secretary Greg Clark called the strategy "an unashamedly ambitious vision for the future of our country", arguing it will help address four "grand challenges" facing the UK.

"The white paper follows extensive engagement by government with industry, academia and business bodies who submitted nearly 2,000 responses to the green paper consultation earlier in 2017".

"For years, businesses have been crying out for more support to take advantage of the opportunities that new technology provides".

"Addressing the UK's well-documented digital skills gap remains a major obstacle to overhauling the productivity slump".

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.

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