The UK government has launched its long-awaited industrial strategy, with businesses welcoming support through trade investment, skills training and lower energy prices.
Published on Monday (23 June), the 10-year plan is intended to increase business investment and drive growth in the UK economy.
At its launch, Jonathan Reynolds, business and trade secretary, said the strategy would “ensure the UK is the best country to invest and do business”.
The strategy comes shortly after the recent spending review, where Rachel Reeves committed £39bn for affordable homes and £15bn for transport improvements across the North and Midlands, as well as an £86bn boost for science and tech R&D, £14.2bn to build Sizewell C, and £2.5bn for small modular reactors.
The 160-page strategy white paper sets out how the government plans to invest in eight key sectors (IS-8) that it judges to have the highest potential for economic growth.
The IS-8 comprise advanced manufacturing; the creative industries; life...