The Prime Minister has launched a green paper on the Industrial Strategy for consultation.
A ten point action plan with the biggest investment in transport, broadband and energy for a generation.
On 23rd January 2017 Theresa May revealed her long term vision for delivering a more resource efficient and resilient economy. This will be supported by the government’s 25 year environment plan.
The proposed action plan will focus on these 10 important issues:
- Investing in science, research and innovation
- Developing skills
- Upgrading infrastructure
- Supporting business to start and grow
- Improving government procurement
- Encouraging trade and inward investment
- Delivering affordable energy and clean growth
- Cultivating world-leading sectors
- Driving growth across the whole country
- Creating the right institutions to bring together sectors and places
What has prevented the government moving forwards in the past?
- There has been a distinct lack of clear long-term plans and budgets
- Progress hindered by a complex planning system
- A failure to align planning for infrastructure with planning for housing and industry
What is needed now to help achieve their goals?
Energy, transport, water, flood defence and digital infrastructure must be upgraded across the whole country. This will allow businesses to thrive and enable higher rates of house-building, making houses more affordable.
Here is a brief outline of what has been noted in the green paper:
- House building – there will be new funding made available to enable central investment to support local growth and will fund the infrastructure needed to enable house-building on sites with marginal viability in locations with an acute housing need
- A Housing Infrastructure fund will allow joined up planning for housing and infrastructure in areas in severe need
- An Accelerated Construction programme will support new entrants and developers, innovative private sector partners and offsite manufacturers to ensure homes are built up to double the speed of traditional house builders
- A total of £1.1 billion of funding for local roads and public transport networks will allow communities to fix local travel bottlenecks that hold back growth
- The creation of new funding like the Housing Infrastructure Fund and funding for local roads and public transport networks will enable infrastructure decisions to be matched more effectively with local economic plans
- The government will work with local government to review how to bring more business expertise into local government, for example through the creation of a modern “Alderman” type of role within local government; and work with Local Enterprise Partnership (LEPs) to review their role in delivering local growth, examining how we best practice can be spread and strengthening LEPs, including extending the support they receive from the What Works centre for Local Economic Growth
- On climate change, the settled policy position was reflected in the government’s commitment to meeting its legally-binding targets under the Climate Change Act. How it will continue to meet its legal obligations would be set out, as required, in the forthcoming Emissions Reduction Plan
- This year the government will set out a long-term roadmap to minimise business energy costs. To inform this it will commission a review of the opportunities to reduce the cost of achieving its decarbonisation goals in the power and industrial sectors
- It will work with stakeholders to explore opportunities to reduce raw material demand and waste in our energy and resource systems, and to promote well-functioning markets for secondary materials, and new disruptive business models that challenge inefficient practice
This work will be supported by the government’s 25 Year Environment Plan which will set out a long term vision for delivering a more resource efficient and resilient economy.
The Prime Minister noted that last summer’s referendum was not just a vote to exit the European Union, it was a directive to the government to change the way our country works for us, the people – forever.
The plan is to shape a new future, to build a stronger, fairer Britain. Our modern industrial strategy is a critical part of our plan for post-Brexit Britain. It will back Britain for the long term: creating the conditions where successful businesses can emerge and grow, and backing them to invest in the long-term future of Britain.
Prime Minister Theresa May said: “This active government will build on Britain’s strategic strengths and tackle our underlying weaknesses, like low productivity. This is vital because if we want to increase our overall prosperity, if we want more people to share in that prosperity, if we want higher real wages, and if we want more opportunities for young people to get on – we have to raise our productivity.”
Do you have an opinion about the points raised in the green paper?
Have your say…
Below is a sample of questions from the green paper, being posed to the general public:
- Does this document identity the right areas of focus: extending our strengths; closing the gaps and making the UK one of the most competitive places to start or grow a business?
- Are the ten pillars suggested the right ones to tackle low productivity and unbalanced growth? If not, which areas are missing?
- Are the right central government and local institutions in place to deliver an effective industrial strategy? If not, how should they be reformed? Are the types of measures to strengthen local institutions set out here and below the right ones?
- Are there important lessons we can learn from the industrial policies of other countries which are not reflected in these ten pillars?
- What should be the priority areas for science, research and innovation investment?
- Which challenge areas should the Industrial Challenge Strategy Fund focus on to drive maximum economic impact?
- What else can the UK do to create an environment that supports the commercialisation of ideas?
- How can we best support the next generation of research leaders and entrepreneurs?
- How can we best support research and innovation strengths in local areas?
- What more can we do to improve basic skills? How can we make a success of the new transition year? Should we change the way that those resitting basic qualifications study, to focus more on basic skills excellence?
Do you want to give your opinion? Send an email to: email@example.com
The consultation closes on 17th April 2017.
To read the Green Paper go to: https://www.gov.uk/government/consultations/building-our-industrial-strategy
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