Government’s new Industrial Strategy aims for safer, energy-efficient workplaces
On 27 November, Business Secretary Greg Clark launched the Government’s ambitious new 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 £725m over the next three 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 £170m to transform the construction sector and help create affordable places to live and work that are safer, healthier and use less energy, and up to £210m to improve early diagnosis of illnesses and develop precision medicine for patients across the UK.
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.”
In the strategy, the Government has identified four 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 four 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’; and
- future of mobility – ‘we will become a world leader in the way people, goods and services move’.
To ensure that the Government is held to account on its progress in meeting the ambitions set out in the strategy, an Independent Industrial Strategy Council will be launched in 2018 to make recommendations to government on how it measures success.
‘Industrial Strategy: building a Britain for the future’ is available to read here.