Business Secretary
Greg Clark has launched the government’s ambitious Industrial Strategy, setting
out a long-term vision for how Britain can build on its economic strengths,
address its productivity performance, embrace technological change and boost the
earning power of people across the UK.
With the aim of
making the UK the world’s most innovative nation by 2030, the government has
committed to investing a further £725 million over the next 3 years in the Industrial
Strategy Challenge Fund (ISCF) to respond to some of the greatest global
challenges and the opportunities faced by the UK.
This will include
£170 million to transform the UK's construction sector and help create
affordable places to live and work that are safer, healthier and use less
energy, and up to £210 million to improve early diagnosis of illnesses and
develop precision medicine for patients across the UK.
The Royal Institute
of British Architects (RIBA) has welcomed the Government’s new Industrial
Strategy, but CEO Alan Vallance has made it clear the Institute sees this as
the start, not the end of engagement between business and the Government.
RIBA CEO Alan
Vallance said: “An effective UK wide Industrial Strategy is vital as we
navigate towards Brexit and beyond – delivered alongside substantial
investments in our lagging infrastructure, it has the potential to greatly
improve productivity.
"We welcome the
renewed focus on developing workers’ skills but we need to recognise that the
UK is at its strongest when we compete globally for talent.
"Alongside
supporting our world class university system and developing new routes like
apprenticeships, we need an immigration system that allows UK business to
thrive around the world. A good start would be clarity for EU citizens living
in the UK.
"I congratulate
the Construction Leadership Council on developing the Construction Sector Deal,
particularly the exciting progress they are making on offsite manufacturing.
However, the new procurement standard for the construction industry needs to be
owned by the whole sector, not just the larger builders.
“With
our partners on the Creative Industries Council, the RIBA will continue to work
on the sector deal for the creative industries. The focus on regional hubs,
like RIBA North in Liverpool, and the recognition of the value our sector plays
at home and abroad is incredibly welcome.”
In the strategy, the
government has identified 4
Grand Challenges; global trends that will shape our rapidly changing future
and which the UK must embrace to ensure we harness all the opportunities they
bring. The 4 are:
- artificial intelligence – we
will put the UK at the forefront of the artificial intelligence and data
revolution
- clean growth – we will
maximise the advantages for UK industry from the global shift to clean growth
- ageing society – we will
harness the power of innovation to help meet the needs of an ageing
society
- future of mobility – we will
become a world leader in the way people, goods and services move.
Prime Minister
Theresa May said: "Our modern Industrial Strategy will shape a stronger
and fairer economy for decades to come. It will help create the conditions
where successful businesses can emerge and grow, and support these businesses
in seizing the big opportunities of our time, such as artificial intelligence
and big data, whilst also making sure our young people have the skills to take
on the high-paid, high-skilled jobs this creates.
"As we leave
the European Union and forge a new path for ourselves, we need to focus on
building a better future for our country and all the people who live in it.
With the Budget last week, and our Industrial Strategy in the years ahead, we
will build a Britain fit for the future."
